Diekmann To Head Allianz

NU Online News Service, Dec. 18, 1:55 p.m. – Michael Diekmann will be succeeding Henning Schulte-Noelle as chairman of Allianz A.G., Munich, Allianz says.

Schulte-Noelle quit after Allianz posted a year of disappointing results.

“We have learned our lesson from the weakness of the capital markets and are recalling our old strengths in risk management and the insurance business,” Schulte-Noelle says in a statement about his departure. “The motto is: back to the basics. In our core businesses we will position ourselves so that we are not dependent on the help of the capital markets to earn money.”