Clemens Jungsthöfel , CFO and CEO designate, Hannover Re
Further Christian Hermelingmeier, 43, CFO, HDI Global SE, moves within the Group as CFO to Hannover Re from 1 April 2025. His successor at HDI Global SE will be Stefan Pasternak, 50. Currently, he is CFO at Munich Re’s subsidiary Great Lakes Insurance SE, a primary insurer specialising in complex risks
Hannover: In a change of leadership plan at Hannover Re, Jean-Jacques Henchoz, 60, chief executive officer(CEO), Hannover Re, will be succeeded by the reinsurer’s chief financial officer(CFO) Clemens Jungsthöfel, 54, from Apr 1, 2025.
Further Christian Hermelingmeier, 43 , CFO, HDI Global SE, moves within the Group as CFO to Hannover Re from 1 April 2025. His successor at HDI Global SE will be Stefan Pasternak, 50. Currently, he is CFO at Munich Re’s subsidiary Great Lakes Insurance SE, a primary insurer specialising in complex risks.
Jean-Jacques Henchoz is not extending his expiring contract at his own request. He will leave the executive board of Hannover Re on 31 March 2025, but will remain closely associated with the company.
“My time leading Hannover Re has been very fulfilling, both professionally and personally. Together with a great team, we have succeeded in further developing Hannover Re and increasing its profitability.
“The aim of my next professional chapter is to contribute with my experience in non-executive and advisory roles. Until the end of March, I will continue to dedicate myself fully to my duties as CEO of Hannover Re and ensure an orderly handover to Clemens Jungsthöfel, whom I see as the perfect choice for my succession. I wish Clemens all the best for his new role,” said Jean-Jacques Henchoz.
“We very much regret Jean-Jacques Henchoz’ decision. He has made important transformational changes and strategic decisions with extraordinary commitment and great foresight that have strengthened the company’s long-term position. Under his leadership Hannover Re has further expanded its market position and its cost leadership,” said ,” said Torsten Leue, Chairman of the Supervisory Board of Hannover Re.
Jean-Jacques Henchoz has led Hannover Re very successfully since 2019 through a partially turbulent market environment. During this time, Hannover Re’s market capitalisation has almost doubled to about EUR 29 billion thanks to strong, profitable growth.
Over the past six years, the return on equity has averaged 14.7 per cent.
Clemens Jungsthöfel has proven his exceptional expertise in recent years as chief financial officer of Hannover Re and the corporate and specialty insurer HDI Global as well as a partner at auditing and consulting firm KPMG, where he exclusively advised primary insurance and reinsurance companies.
In a challenging market environment, he made a significant contribution to the strategic direction of Hannover Re, its strong financials and earnings as well as its resilience. He is an auditor, tax consultant and qualified insurance agent.
His successor, Christian Hermelingmeier, has been chief financial officer at corporate & specialty insurer HDI Global since September 2020.
He is also chairman of the board of directors of HDI Reinsurance Ireland SE. Christian Hermelingmeier made a significant contribution to the profitable growth of HDI Global and its strategic international orientation.
During his time as chief financial officer, the international share of the corporate and specialty insurer’s business rose from 50% to 75% of premiums.
At the same time, the group result increased significantly.
Christian Hermelingmeier was previously head of controlling for Talanx Group’s Private and Corporate Insurance Germany division.