Insurance giant Allianz has hired Fernley Dyson to takeover as finance boss when Mark Churchlow steps down at the end of the year.

The incoming CFO joins from Belgian insurance powerhouse Ageas, where he has headed up the finance team since 2012.

Before that he spent seven years at UK-based personal lines giant Aviva.

Meanwhile, the news marks the end of Churchlow’s almost 30-year tenure at Allianz.

Jon Dye, who runs the German giant said: “I would also like to go on record to thank Mark for his tremendous contribution to Allianz over a considerable period, including holding the posts of chief actuary and CFO.

“Mark has played a key role in building our business including, most recently, the strategic partnership with LV=.”

Commenting on Dyson’s appointment, Dye said: “We are delighted that Fernley is joining our management board to take on the leadership of our finance teams.”

“He brings with him a wealth of experience in the insurance sector and has a strong track record in the fields of professional and financial services.”