Germany-based Allianz has announced that Antoine Issa has been appointed as CEO of Allianz Saudi Fransi, a joint venture company of Allianz and Bank Saudi Fransi.

In his new function, Antoine Issa will further strengthen the position of Allianz Saudi Fransi in Saudi Arabia. Prior to his appointment, he was deputy CEO at Allianz Lebanon and previously managing director of Allianz Egypt and was significantly involved in the development of the company in Saudi Arabia.

Sam Gosh, Allianz regional CEO of the Middle East and Indian subcontinent, said: With Antoine Issa’s expertise and know-how he will give the company’s development a new push by implementing state-of-the art technologies and strengthening the insurer’s position in the Saudi Arabian market. This market plays an important role in the Middle East and shows enormous potential of growth.