German-based Allianz-Lebensversicherungs’ insurance supervisory board has appointed Markus Faulhaber as its new CEO who will replace Maximilian Zimmerer with effect from 1 June 2012.

The company has also appointed Alf Neumann as a member of the board of management, who will take over the area private clients and products from Faulhaber. Zimmerer will join the management board of Allianz SE, Munich.

In addition, Birgit Konig has been named as CEO of Allianz Private Krankenversicherungs who along with Faulhaber will be responsible for health insurance and life insurance respectively.

Konig and Faulhaber will become new members of the board of management of Allianz Deutschland.

Allianz, the parent company, offers insurance, banking, asset management products and services to more than 76 million customers in about 70 countries.