New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020, succeeding Dr. Renate Strasser who, after 16 years with Munich Re, has decided to take an opportunity outside of the group.
Braune, a highly experienced reinsurance expert, joins NewRe with more than 25 years in the industry. Since joining Munich Re in 1992, he has held many strategic management functions. Most recently, he was in charge of Munich Re’s life and health reinsurance business in Europe, Latin America and the Middle East.
“We are fortunate to have someone of Thomas Braune’s calibre and experience step up to lead NewRe. With him we have appointed a strong strategic thinker and communicator who is customer-focused and will vastly drive and strengthen NewRe’s financial performance,” said Claudia Hasse, speaking on behalf of the board of directors.
NewRe said its strategy remains unchanged and strongly embedded in intensive collaboration with brokers on standard P/C reinsurance in combination with developing customized reinsurance solutions for clients.
Going forward, NewRe will continue to write significant lines of treaty excess of loss with a preference for natural perils and motor exposures with European cedents, said the company.
New Reinsurance Co. Ltd. is a Swiss reinsurer founded in Zurich in 1926. In 1988, NewRe became part of Munich Re Group, one of the world’s leading reinsurers. NewRe is a property and casualty reinsurance company, specializing in structured reinsurance solutions and an active reinsurer in the fields of insurance derivatives and parametric trigger covers. The company also specializes in variable annuity reinsurance and capital management solutions for life business. NewRe is considered a core company of Munich Re Group and combines exceptional financial strength with the efficiency and creativity of a medium-sized reinsurer.
Was this article valuable?
Here are more articles you may enjoy.