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Tag: Allianz Partners

Allianz named title sponsor of Richmond amphitheater

Allianz Partners will be the naming sponsor for Richmond’s forthcoming 7,500-capacity, $30 million outdoor amphitheater, the global insurer announced Tuesday.

The Allianz Amphitheater at Riverfront, a project led by Charlottesville’s Red Light Ventures and Live Nation, is expected to open next year in time for the summer concert season, according to the announcement. The amphitheater is the first new major concert venue in Richmond in decades, and is set on four acres near the banks of the James River, near CoStar’s Richmond campus and Tredegar.

“We are thrilled to be a part of bringing this exciting new entertainment venue to the Richmond community,” Jeff Wright, CEO of Richmond-based Allianz Partners USA, said in a statement. “Our leadership team, along with the hundreds of our associates who live and work in Central Virginia, eagerly anticipate opening night and many future summers filled with incredible music against the backdrop of our beautiful city.” Financial terms of the deal were not disclosed.

The amphitheater’s expected to host 30 shows a season and generate $30.6 million in economic impact annually, as well as creating 300 jobs, according to the announcement. Red Light Management, founded by Coran Capshaw, represents dozens of major music artists, including Dave Matthews Band, Chris Stapleton, Sabrina Carpenter and others.

Capshaw also developed the Ting Pavilion on Charlottesville’s Downtown Mall and owns the Jefferson Theater, also in Charlottesville. He founded Starr Hill Presents and Musictoday, which concert promoter Live Nation purchased in 2006, but Capshaw reacquired the entertainment marketing company in 2017 after a later purchaser went bankrupt.

“We’re excited to have Allianz Partners join us as we bring a new destination for live music to downtown Richmond,” Capshaw said in a statement.

Finance | Insurance 2023: JEFF WRIGHT

Well into his second year as CEO of the German travel insurance and assistance company’s U.S. subsidiary, Wright carries with him a “love for extreme technical financial concepts” that led him to choose a career in the insurance industry. Wright earned his bachelor’s degree from the University of Richmond and his MBA at the University of Maryland. He is a member of the Greater Richmond Partnership Regional Leadership Circle.

Allianz Partners USA, which has 900 of its 20,000 employees in Virginia, announced in June that it will offer travel coverage to guests of The Ritz-Carlton Yacht Collection luxury cruise line. Last year, JetBlue Travel Products announced a multiyear partnership extension with Allianz Partners USA, reaffirming its status as JetBlue’s official travel insurance provider.

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WHAT I’VE LEARNED: Being a leader has nothing to do with whether you are the smartest person in the room. Most of the time you aren’t, and that’s a good thing. You should try and keep it that way.

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Finance | Insurance 2023: ELENA EDWARDS 

Edwards joined French travel insurance agency Allianz Partners in 2019 as general manager of the U.S. business unit. She was named CEO of Allianz Partners USA in June 2020 and took on the additional the role of regional CEO for North America in July 2021 before being appointed chief markets officer and a board member for the parent company in February 2022.

Allianz, which sells travel, health and life insurance, employed about 800 people in its Henrico headquarters as of last year.

An industry veteran, Edwards previously worked more than 30 years as an executive for General Electric and Genworth Financial. She served as senior vice president of Genworth’s long-term care insurance closed block business. She also worked as chief operating officer for the company’s U.S. life insurance division.

Edwards, who has bachelor’s and master’s degrees in mechanical engineering from Union College and Rensselaer Polytechnic Institute, is a STEM advocate who serves as board vice president for the Science Museum of Virginia Foundation.

Allianz promotes Canadian CFO to North American CFO

Henrico County-based Allianz Partners USA has promoted Patrick Espeut to chief financial officer for the North America region, which includes the U.S. and Canada, the travel insurance and assistance company announced Tuesday.

Allianz’s former chief financial officer, Jeff Wright, was promoted to CEO earlier this year. Espeut had been chief financial officer of Allianz Partners’ business unit in Canada. Espeut joined Allianz in June 2020 and before that worked for Canadian insurer Echelon Insurance for 17 years, serving roles including chief financial officer and chief risk officer.

Espeut serves on the board of the Canadian Association of Black Insurance Professionals as treasurer and is president of the Canadian Insurance Accountants Association. He graduated from the University of Toronto with a bachelor’s degree in finance and is a chartered professional accountant of Canada. In his new role, he will be based in Henrico County.

“Patrick did a tremendous job in developing and implementing our financial business strategy in Canada and we’re excited to add him to our team in the U.S.,” Wright said. “Patrick joins us in the U.S. at an exciting time of tremendous growth for the travel insurance industry and we’re glad to have him aboard to help us navigate the challenges and opportunities that rapid growth provides.”

Allianz promotes North American CEO to global position

Henrico County-based travel insurance company Allianz Partners USA has promoted CEO Elena Edwards to chief markets officer at the company’s French parent company, Allianz Partners Group. Jeff Wright, the company’s chief financial officer, is succeeding Edwards as CEO of the U.S. business unit.

Edwards will retain her position as CEO for North America overseeing the company’s business units in the U.S. and Canada. She will also join the Allianz Partners Group’s board of management.

Wright

Edwards joined Allianz in 2019 as general manager of the U.S. business unit, then was promoted to CEO of Allianz Partners USA in June 2020 and about a year later, took on the additional role of regional CEO for North America. She has spent 30 years in executive positions at General Electric companies, including 17 years in the insurance industry.

She will split her time between Allianz’s North American headquarters in Henrico and its Paris global headquarters.

Wright also joined Allianz in 2019 and has 17 years of experience in the insurance industry. Before joining Allianz, he worked for Henrico County-based Fortune 500 insurer Genworth Financial Inc., where he was CFO for its U.S. life insurance division. He graduated from the University of Richmond with a bachelor’s degree in business administration and earned an MBA from the University of Maryland.

He will continue to be based in Henrico.

Allianz, which sells travel, health and life insurance, employs about 800 people in Henrico.