Hannover Re announced that Chief Executive Officer Ulrich Wallin will retire following the company’s annual general meeting on May 8, 2019. He will be succeeded on that date by Jean-Jacques Henchoz (53), who has been appointed as a member of the executive board, effective April 1, 2019.
Replacing Henchoz at Swiss Re is Russell Higginbotham, who on Sept. 1, will become CEO Reinsurance EMEA and regional president EMEA and member of Swiss Re’s group executive committee.
Since 2011, Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Re, taking responsibility for both the life and non-life business of Swiss Re in this region. In January 2012, he was appointed as a member of the executive committee of the Swiss Re Group. He had previously served with Swiss Re in a number of different positions since 1998, including in the role of CEO of the subsidiary Swiss Re Canada in the period between 2005 and 2010.
Henchoz holds a Bachelor of Arts degree in Political Science and a Master of Business Administration from the International Institute for Management Development (IMD), Lausanne. He is a Swiss citizen.
“We are profoundly grateful to Ulrich Wallin for his tremendous entrepreneurial achievements,” said Herbert K. Haas, chairman of the supervisory board of Hannover Rück SE. “Under his expert and prudent direction Hannover Re has significantly expanded its market position as a leading reinsurer and further enhanced its diversification and sustained profitability.”
He said that Jean-Jacques Henchoz is “a very seasoned reinsurance manager who will continue to drive the company’s successful development.”
In a statement, Hannover Re said Wallin can look back on an extremely successful career spanning 35 years with Hannover Re. In 2001, he was appointed to the executive board, becoming chief executive officer in 2009.
Under his leadership, Hannover Re has grown its gross written premium from roughly €10.3 billion ($11.9 billion) to around €17.8 billion ($20.5 billion) and boosted its group net income from some €700 million ($807.5 million) to around €1 billion ($1.2 billion), said the company. Hannover Re’s share price has more than quadrupled from €27 ($31.2) to €115 ($132.7).
Source: Hannover Re
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