Global reinsurance giant Munich Re has appointed Michael Hauer to replace Ike Kim as Chief Executive Officer (CEO) for Korea, effective June 1st, 2019.
After nine years as CEO for Korea, Kim is to leave the position and become Executive Director at Munich Re Korea.
Hauer, who has been with the reinsurer for 27 years, will be based in Seoul, and will leverage his knowledge and understanding of the company’s reinsurance capabilities alongside the strengths of a local team of market experts.
Currently, Hauer is based in Singapore and serves as Head of Marine Reinsurance for the Asia Pacific. Throughout his tenure with Munich Re, he has held a number of senior positions, and has also represented the Group in China.
Roland Eckl, CEO of Asia Pacific, Munich Re, said: “The Korean market is the seventh largest insurance market worldwide and presents numerous opportunities in traditional and non-traditional insurance and reinsurance. Munich Re has had a long-standing presence in Korea and there is strong momentum to build on, as we enter our next phase of growth under Michael’s leadership.”