Allianz Life Insurance Company of North America, also known as Allianz Life, has promoted Mike Scriver to senior vice president of hedging for its wholly-owned subsidiary Allianz Investment Management.

Currently, Scriver is global head of hedging for Allianz SE and its operating entities worldwide and will now report to Carsten Quitter, senior vice president and chief investment officer of Allianz Life.

In his new role, he will provide direction to develop and implement new hedging strategies and manage all major aspects of quantitative financial risk management operations.

Scriver, who joined Allianz Life in 2005, will also provide equity and interest rate hedging programs featuring advanced derivative strategies.

"Mike’s expertise will allow us to secure the guarantees that back our annuity and life insurance products," Quitter said.

Prior to joining Allianz Life, Scriver worked as quantitative analyst at Provident Advisors for more than three years and also served various actuarial roles at ING in Minneapolis.