Joachim Wenning takes over as Chairman of Munich Re

Munich:

Joachim Wenning (52) takes over as the new Chairman of the Board of Management at Munich Re on 27 April 2017. The Annual General Meeting said goodbye to Nikolaus von Bomhard (60), who has headed the Group for over thirteen years.

The shareholders also agreed to raise the dividend to €8.60 per share (previous year €8.25). This means Munich Re is paying out over €1.3bn to its shareholders.

At the Annual General Meeting, von Bomhard stressed how important innovation is for Munich Re: “Our aim is to understand the opportunities and risks of new technologies earlier and better than the competition, and to develop new products and business models on the basis of this knowledge. I am proud of what Munich Re has initiated in terms of innovation across the whole Group.”

Bernd Pischetsrieder, the Chairman of the Supervisory Board at Munich Re, paid tribute to the contribution of the departing Chairman: “Nikolaus von Bomhard took over at the helm of Munich Re at a difficult time, and successfully repositioned the Group’s strategy; this allowed Munich Re to survive the financial crisis unscathed.”

Source: Asia Insurance Post

Date: 25th April, 2017

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