Corporate News

HDI International announces new Board team members

  • Nicolas Masjuan appointed Management Board member responsible for Latin America
  • Christian Müller to become Management Board member responsible for Europe
  • Dr. Camillo Khadjavi to step down from the Management Board effective 30 April 2021 on the best of terms

The Talanx Group’s Retail International Division is positioning itself for the future with new appointments to its Management Board. Dr. Camillo Khadjavi, currently the Management Board member responsible for Business Development Latin America, will step down from HDI International AG’s Management Board on the best possible terms effective 30 April 2021 in order to pursue his own entrepreneurial business opportunities. His successor, who will join the company on 1 April 2021, is the Argentinian Nicolas Masjuan, currently a partner with Bain & Company in Buenos Aires. In addition, Christian Müller will become the new Management Board member responsible for Europe with effect from 1 April 2021.


“I would like to thank Dr. Camillo Khadjavi for his successful work at the Talanx Group. He was very successful in expanding our Latin American business through a mix of organic growth, partnerships and acquisitions. I would like to wish him all the best for the future, both personally and professionally”, said Torsten Leue, Chairman of Talanx AG’s Board of Management and Supervisory Board Chairman at HDI International AG.

Dr. Khadjavi’s successor, Nicolas Masjuan, will be responsible for organic and inorganic growth in the Latin American markets. Nicolas Masjuan has been a partner at Bain & Company in Argentina for more than 10 years and knows South and Central America extremely well. He has a proven track record in the insurance business. As a member of Bain’s Financial Services Leadership Team he was involved both in strategic consulting and in the successful implementation of a large number of M&A, transformation and digitalization projects. Nicolas Masjuan is an engineer and economist by training and speaks Spanish, Portuguese and English.

The new Management Board member for Europe is Christian Müller. In his previous role as the Retail International Division’s Head of CEE, Russia & Turkey, he initiated a number of acquisitions in Turkey and Italy. Christian Müller has extensive knowledge of the European markets: before joining HDI International AG in 2015 as Head of Corporate Development, he held a number of management positions at Allianz, including regional CFO of the Business Division Central and Eastern Europe, Middle East and Africa. A qualified actuary, he has a degree in mathematics and speaks English and Russian.

“I am delighted that Nicolas Masjuan will be joining us as a new HDI International Management Board member. He has a deep understanding of the markets and culture in South and Central America and excellent networks there”, said Wilm Langenbach, the member of Talanx AG’s Management Board responsible for Retail International and the CEO of HDI International AG. “And with Christian Müller we are giving a great manager from our own ranks more responsibility. Both men will make a significant contribution to ensuring that HDI International achieves its goal of becoming a top five player in its core markets.”

“I am very much looking forward to working with both of them”, Wilm Langenbach continued. „And my warmest thanks go to Camillo Khadjavi for his successful work. I wish him every success for the future, both in his business ventures and personally.” Torsten Leue added: “Nicolas Masjuan and Christian Müller’s expertise, strategic skills and leadership style make them a perfect fit for us. This puts the Management Board team in an extremely strong position to pursue the strategic growth ambition of our Retail International Division.”

With effect from 1 May 2021, HDI International’s Management Board will consist of the following people: Wilm Langenbach (Chairman), Nicolas Masjuan (Latin America), Christian Müller (Europe) and Oliver Schmid (Finance).

As always, these appointments are subject to approval by BaFin, the German supervisory authority.

The Retail International Division generated premium income of EUR 6.1 billion and an operating result of EUR 283 million in 2019. The division operates in Latin America and Europe. Its core markets are Brazil, Mexico, Chile, Poland and Turkey, and it also has a presence in Italy, Russia, Hungary, Argentina, Uruguay and Colombia.


This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.