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Michael Diekmann is the CEO of Allianz as of 2003. He began his career with Allianz in 1988 after becoming frustrated with his own business. In 1996, he moved to Singapore to run Allianz's Asia-Pacific business front. Diekmann's total compensation from 2010 was around one hundred and five million Euros. Diekmann earned his degree from Goettingen University, where he studied law and philosophy.

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