Global reinsurance giant, Munich Re’s Stefan Riedel has been named Chief Underwriting Officer, Property & Specialty.
An experienced veteran across the industry, Riedel has worked for Munich Re for nearly 15 years.
In his most recent role at the firm, he served as CUO, Energy, Munich Re Facultative & Corporate.
Prior to that role, he served as Head of CIP Energy and CUO, after a three year stint as Head of Property Treaty Underwriting, UK & The Netherlands.
Riedel joined the reinsurance giant in 2009, serving as a Divisional Actuary for four years.
Meanwhile, Munich Re managed to generate a profit of €2.4 billion in H1 of 2023, higher than half of its full year guidance of €4 billion, as the firm remains “on track” to achieve its annual target.
At the same time, Munich Re also generated a profit of €1.154 billion for Q223, down somewhat from €1.585 billion in the same quarter last year.
Joachim Wenning, Chairman of the Board of Management and CEO at Munich Re, recently said that the global reinsurer expects current, favourable market conditions to persist beyond next year and into 2025.
