Hannover Re CFO Roland Vogel is retiring – Clemens Jungsthöfel from HDI Global to take over his role

Roland Vogel will continue to place his proven expertise at Hannover Re's disposal in an advisory role and in the interest of Hannover Re he will remain a member of the Supervisory Board or Advisory Board at certain companies. In the course of his more than 30 years with Hannover Re Roland Vogel successfully manoeuvred the Group through the financial crisis of 2008 / 2009 and prepared it for Solvency II – he played a significant role in enhancing the value and reputation of Hannover Re for all stakeholders. "On behalf of the Supervisory Boards of Hannover Re and E+S Rückversicherung I would like to thank Roland Vogel most sincerely for his commendable achievements. He deserves our special recognition for his extremely valuable contribution to the successful development of the Hannover Re Group over the past 11 years as Chief Financial Officer and to the exceptionally positive performance of the Hannover Re share", Torsten Leue, Chairman of the Supervisory Board of Hannover Re and Chief Executive Officer of Talanx AG, commented. "What is more, the appointments from within our own ranks and across divisions show just how interconnected and open the Talanx Group is." Jean-Jacques Henchoz, Chief Executive Officer of Hannover Re, added: "I would like to express my considerable gratitude to Roland Vogel for his outstanding and very successful work for our Group. With his expertise, his obliging manner and his humanity, he has made an extremely positive value contribution to Hannover Re. I would also like to thank Roland Vogel for the support that he has given me since I took on the role of CEO."

His successor, Clemens Jungsthöfel (49), has served on the Executive Board of HDI Global SE since May 2018 with responsibility for the areas of controlling, risk management, corporate development and passive reinsurance. He has been highly successful in supporting the rehabilitation of property business at HDI Global and enjoyed similar success in restructuring the finance function. A seasoned expert in matters of both finance and insurance, he previously worked as a partner with the accounting and consulting firm KPMG with responsibility for auditing and advising insurance undertakings. He is a certified public auditor and tax consultant as well as a qualified insurance practitioner. The focus of his work with KPMG was on internationally operating insurance groups, including industrial line and specialty insurers and reinsurers. "Clemens Jungsthöfel is a very experienced, well-versed and respected finance expert. I am delighted to have recruited him for the MDAX-listed Hannover Rück SE and I wish him every success in his new role", Torsten Leue added. Jean-Jacques Henchoz: "I know Clemens Jungsthöfel very well from numerous conversations that we have had. With his experience and cultural awareness he is an excellent fit for Hannover Re. I am greatly looking forward to working with him."

Dr Christian Hermelingmeier (39), who will succeed Clemens Jungsthöfel, is currently Head of Controlling in the Retail Germany division. In this capacity he serves as a member of the Supervisory Boards of HDI Lebensversicherung AG, HDI Versicherung AG, HDI Pensionskasse AG and HDI Pensionsmanagement AG. He gained experience in industrial lines while serving as Head of Operational Controlling at HDI Global from 2016 to mid-2018. He holds a doctorate in business mathematics and is also a certified actuary (DAV). Torsten Leue, Chairman of the Supervisory Board of HDI Global SE, noted: "In recent years Christian Hermelingmeier has demonstrated not only his extraordinary financial expertise but also strong leadership skills. He personifies the ongoing cultural transformation and will continue to pursue the path taken by Clemens Jungsthöfel. I wish him every success in his efforts." Dr Edgar Puls, Chief Executive Officer of HDI Global SE, noted: "I know Christian Hermelingmeier from the successful time that he spent with us. I am delighted that we have been able to bring him back on board with HDI Global and I look forward to working with him."

These personnel changes are subject to the approval of the Federal Financial Supervisory Authority (BaFin).