Insurance
Change of boss at the insurance giant Munich Re
The Dax Group Munich Re has almost tripled its profits in the eight-year term of his head of the CEO Joachim Wenning. Now the successful manager stops.
After successful years, the reinsurer Munich Re is facing a boss change: The CEO Joachim Wenning (60), which has been in office since 2017, is retired “after a careful consideration” at the end of December, as the DAX group announced. The previous CFO Christoph Jurecka (50) is the successor.
Change of staff in the chief office are not too common in the company founded in 1880: Jurecka is only the tenth CEO in the 145-year history of the world’s largest reinsurer.
At Wenning, the company has experienced good times: The manager, born in Jerusalem in 1965, had taken over the helm after several years of falling results and prescribed an ambitious strategy program to the group, which will be completed at the same time as Wenning’s term. Since then, net profit has increased from EUR 2.1 billion in Wenning for the first year to 5.7 billion in 2024. The aim for this year is six billion.
The South African Andrew Buchanan will be the new chief finance chief at Jurecka’s position.
dpa
Source: Stern
