Munich Re, the largest global reinsurer, has appointed Christoph Jurecka,43, as the new CFO of Munich Re. Jurecka,has been the CFO of ERGO Group AG, Munich Re’s primary insurance subsidiary since 2011. to succeed Jörg Schneider, who is the longest-serving CFO of Munich Re and will retire on reaching 60 in Dec 2018.
The Supervisory Board has also decided to reallocate responsibilities on the Board of Management of Munich Re. This will mean larger divisions, but no changes in the composition of the Board. Units will be reallocated as part of the reorganisation.
The Special and Financial Risks division (SFR)of the company will be disbanded. Those units of SFR that operate globally will be allocated to Global Clients/North America (GC/NA), while those units with a European operational focus will be assigned to Europe/Latin America (EU/LA). At the same time, responsibility for reinsurance business in Germany will be reallocated from the Germany, Asia-Pacific, Africa (GAPA) division to EU/LA, since they share the same regulatory environment and have similar business models.
Peter Röder will continue to head the GC/NA division, which will be reinforced by the units formerly allocated to SFR. Doris Höpke will assume responsibility for the expanded EU/LA division. She will also still be Labour Relations Director and remain in charge of Human Resources. Hermann Pohlchristoph will remain responsible for property-casualty reinsurance in Asia, Pacific and Africa.
The new divisional structures and responsibilities will take effect on 1 August 2018.