Hannover Re has announced that Michael Pickel is to succeed Ulrich Wallin as Chief Executive Officer (CEO) of E+S Rück, the subsidiary responsible for the Group’s business in Germany.
Pickel has been a member of the Executive Board of Hannover Re since 2000 and is currently responsible for the Group’s property and casualty (P&C) reinsurance operations in North America and Continental Europe.
He will take over as CEO of E+S Rück on March 1, 2019 following Wallin’s retirement, which was originally announced in August 2018.
Jean-Jacques Henchoz, current head of Swiss Re’s reinsurance division in Europe, Middle East and Africa (EMEA), has been named as the successive CEO of Hannover Re, beginning May 8, 2019.
Hannover Re has also revealed that Jonas Krotzek will take over the central management of Karsten Faber for Germany, Austria and Switzerland as of 1 January 2019, as well as Italy and business with the Talanx Group.
The company said recently that it continues to expect positive premium development for E+S Rück in the German market for the upcoming round of treaty renewals, albeit at a somewhat more muted pace than in the previous year.
“Against the backdrop of an increased number of small and mid-sized losses we do not see any room for concessions”, Pickel said during a press conference at this year’s Baden-Baden conference.
“We anticipate further attractive business opportunities in Germany for E+S Rück in 2019,” he added. “It remains our goal to keep our market share on a high level and offer our clients innovative reinsurance solutions.”
