CFO Jörg Schneider to hand over to Christoph Jurecka at the end of the year
Jörg Schneider, who turns 60 this year, will retire from the Munich Re Board of Management at his own request on 31 December 2018. He has served on the Board for more than 18 years. A management expert and lawyer, Schneider is the longest-serving CFO not only among the DAX 30 companies but also among the most important European insurance companies. The Supervisory Board of Munich Re has appointed Christoph Jurecka as his successor. Jurecka is 43 years old and since 2011 has been the CFO of ERGO Group AG, Munich Re’s primary insurance subsidiary.
After completing his law degree and obtaining his doctorate, Jörg Schneider joined Munich Reinsurance Company’s Finance Department in 1988, and was appointed to the Board of Management in 2000. Schneider has been Munich Re’s CFO since 2001, and is responsible for Financial and Regulatory Reporting, Group Controlling, Integrated Risk Management, Group Legal, Group Taxation, Investor and Rating Agency Relations, and Group Compliance.
Christoph Jurecka, who studied technical physics and obtained his diploma at the Technical University (TU) of Graz in Austria, began his career as an academic at the Technical University of Braunschweig, where he also completed his doctorate. Following a number of career stages in financial and risk management, including CFO and CRO positions for insurance companies in Germany and Switzerland, Jurecka joined Munich Re (Group) where he was appointed to the Board of Management of the ERGO Group in 2011. His responsibilities as ERGO’s CFO include strategic planning, risk management and financial communication.
Reallocation of responsibilities on the Board of Management
The Supervisory Board has also decided to reallocate responsibilities on the Board of Management of Munich Re. This will mean larger divisions, but no changes in the composition of the Board. Units will be reallocated as part of the reorganisation.
Media Information Date here refers to your selection on 1st page. The Special and Financial Risks division (SFR) will be disbanded. Those units of SFR that operate globally will be allocated to Global Clients/North America (GC/NA), while those units with a European operational focus will be assigned to Europe/Latin America (EU/LA). At the same time, responsibility for reinsurance business in Germany will be reallocated from the Germany, Asia-Pacific, Africa (GAPA) division to EU/LA, since they share the same regulatory environment and have similar business models.
The reorganisation of the divisions is intended to make the best use of business synergies, and also to simplify structures and processes. The business models of all the units affected will remain unchanged.
Peter Röder will continue to head the GC/NA division, which will be reinforced by the units formerly allocated to SFR. Doris Höpke will assume responsibility for the expanded EU/LA division. She will also still be Labour Relations Director and remain in charge of Human Resources. Hermann Pohlchristoph will remain responsible for property-casualty reinsurance in Asia, Pacific and Africa.
The new divisional structures and responsibilities will take effect on 1 August 2018.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2017 Atlantic hurricane season and the California wildfires in 2018. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
This media information contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of Munich Re. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.
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