Munich Re divides Board responsibility for Life, HealthCare and Human Resources

Joachim Wenning appointed to the Board of Management with responsibility for Life. Board member Wolfgang Strassl to focus on Human Resources and the profitably growing field of International Health business.

At its regular meeting today, Munich Re’s Supervisory Board appointed a separate member of the Board of Management for life reinsurance. This change is intended to reflect the increasing importance of life reinsurance in Munich Re’s business. The new Board member with responsibility for Life will be Joachim Wenning, who has been appointed by the Supervisory Board to the Board of Management with effect from 1 January 2009.

Wolfgang Strassl, currently responsible for Life, HealthCare and Human Resources on the Board of Management, will focus on HR and the profitable, rapidly growing field of International Healthcare business. The latter segment has developed dynamically under Strassl’s leadership and is now to be positioned more independently.

Wenning, 43, has been CEO of Munich Re’s subsidiary New Re in Geneva since 2005. Having obtained a doctorate in economics, he joined Munich Re in 1991 and – apart from a short spell with Hamburg-Mannheimer – worked at the Group’s headquarters in Munich, latterly as Head of Department in the Life Division, before taking up his position in Geneva.

With reference to the appointment, Munich Re CEO von Bomhard commented: "Given the demographic trends and the need to make more private provision for old age and disability, life reinsurance will play an increasingly important role in tackling the challenges of the future. In Joachim Wenning, we have a knowledgeable colleague who can focus exclusively on this segment, which we have developed very successfully over the past few years.