Close Close

Life Health > Life Insurance

Allianz Life hires Kropp from Genworth to oversee $100 billion

Your article was successfully shared with the contacts you provided.

Allianz SE’s U.S. life insurance unit hired Rosanne Kropp to manage more than $100 billion of assets as vice president of investment strategies for Allianz Investment Management.

Kropp will lead the asset-liability management, strategic and tactical-asset allocation programs together with alternative investments at the unit, the German insurer said in a statement on Monday. She will report to Allianz Life Chief Investment Officer Todd Hedtke.

Insurers are grappling with record-low interest rates and stricter regulatory capital requirements, which are denting returns. Allianz, which has also faced outflows from its Pacific Investment Management Co., in March hired Jacqueline Hunt, who previously headed Prudential Plc’s U.K. and European division, to lead its asset-management and U.S. life-insurance divisions.

Kropp joins from Genworth Financial Inc. where she managed a $70 billion portfolio as senior vice president, according to the statement.