Markus Rieß confirmed to become CEO of ERGO and member of the Munich Re Board of Management

2015/06/09

Group, ERGO

The Supervisory Board of ERGO Versicherungsgruppe AG has today appointed Markus Rieß to the ERGO Board of Management and also as its Chairman. Moreover, the Supervisory Board of Munich Re has appointed Rieß as a member of the Munich Re Board of Management. Both appointments will take effect on 16 September 2015.

As planned, the Supervisory Boards of Munich Re and ERGO Versicherungsgruppe AG have appointed Markus Rieß (49) to two new offices today. With effect from 16 September 2015, Rieß will take over as Chairman of the Board of Management of ERGO Insurance Group. He succeeds Torsten Oletzky (48), who announced in April that he would leave the Group for personal reasons at the end of 2015. Oletzky will leave the ERGO Board of Management on 15 September, but continue to be available to ERGO in an advisory capacity until the end of the year.

With effect from 16 September 2015, the Supervisory Board of Munich Re has also appointed Rieß to the Munich Re Board of Management, where he will be responsible not only for the primary insurance/ERGO field of business, but also for asset manager MEAG's third-party business.

The changes had already been announced by both Groups in April, subject to the approval of the respective Supervisory Boards.

Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2014, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of over €48bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2014, ERGO posted premium income of €18bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €227bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group. 
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