Allianz Commercial Names Stephen Morton Global Captives Head

In Short

Allianz Commercial has appointed Stephen Morton as its next Global Head of Captive Fronting and Captive Solutions. The appointment takes effect on March 1, 2027.

What Happened

Allianz Commercial said Stephen Morton will lead its captive fronting and captive solutions business, starting March 1, 2027. He will be based in Paris and report to Lara Martiner, who leads Alternative Risk Transfer, which is a set of insurance structures used when companies want more control over how risk is financed.

Morton replaces Brian McNamara, who is set to retire at the end of September. Allianz Commercial said Morton will continue to expand its captive solutions portfolio, which has grown over the past 15 years.

Captive insurance is when a company sets up its own licensed insurer, or a similar structure, to cover its risks, like a “self-insurance company” owned by the business. Captive fronting is when a large insurer issues policies in different countries on behalf of that captive, helping the client meet local insurance rules while the captive takes on the underlying risk.

Allianz Commercial linked the move to rising demand for multinational insurance, meaning cover that works across multiple countries, with consistent terms and coordinated claims handling. The firm said it delivers these services through the Allianz Group’s international licensing network, from single-line cover to more complex multi-year and multi-line programs.

Morton has more than 30 years of insurance experience, largely in multinational and captive roles. Before joining Allianz Commercial, he served at AIG as Global Chief Underwriting Officer for fronting and multinational, and held senior roles across Bermuda, London, and Paris.

Why It Matters

Large multinationals are using captives more often as insurance pricing and capacity shift, especially for complex risks and cross-border operations. Allianz Commercial is positioning its leadership team to capture more of that demand.

For African businesses with operations in multiple markets, the ability to coordinate compliant local policies and a central risk-financing structure can reduce friction. It can also make it easier to standardise coverage, manage claims, and plan risk budgets across subsidiaries.