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Munich Re is restructuring its divisions

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July 18, 2018 09:45

Munich Re has carried out a restructuring of its management board and its various divisions, has announced the reinsurer. In addition to making some of the divisions larger, the management responsibilities will be reallocated, but there will be no change to the composition of the board of management.

Thus, the division of special Risks and financial, will be dissolved, and its subsidiaries, which operate globally will be under the guidance of the division of global Customers/North America, led by Peter Röder, while those who focus on Europe will be part of the division Europe/Latin America, led by Doris Höpke.

In addition, Munich Re indicates that the responsibility of the reinsurance business in Germany will increase from the division Germany, Asia Pacific, and Africa division Europe/Latin America since it shares the same rules and has a business model similar.

Make the best use of synergies

«The reorganization of the divisions is designed to take the best advantage of the commercial synergies and to simplify structures and processes. The business models of all the affected units will remain unchanged, » says Munich Re.

In addition, Jörg Schneider, the current chief financial officer of Munich Re, will be retiring on 31 December. It is Christoph Jurecka, chief financial officer of the ERGO Group since 2011, will take over.

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