Herbert K. Haas, Chairman of the Supervisory Board of both Talanx AG and Hannover Rück SE, noted: "We are profoundly grateful to Ulrich Wallin for his tremendous entrepreneurial achievements. Under his expert and prudent direction Hannover Re has significantly expanded its market position as a leading reinsurer and further enhanced its diversification and sustained profitability. In Jean-Jacques Henchoz we have secured the services of a very seasoned reinsurance manager who will continue to drive the successful development of the Reinsurance division for Talanx."

Since 2011, Jean-Jacques Henchoz has been in charge of the region Europe, Middle East and Africa (EMEA) at Swiss Reinsurance Company, Zurich ("Swiss Re"), taking responsibility for both the life and non-life business of Swiss Re in this region. In January 2012, he was appointed as a member of the Executive Committee of the Swiss Re Group in this capacity. In the period from 1998 onwards he had already worked for Swiss Re in a number of different positions, including as CEO of the subsidiary Swiss Re Canada between 2005 and 2010. Jean-Jacques Henchoz holds a B.A. degree in Political Science as well as a Master of Business Administration degree from the International Institute for Management Development (IMD), Lausanne. He is a Swiss citizen.

Ulrich Wallin can look back on an extremely successful career with Hannover Rück SE spanning more than 35 years. In 2009 he was appointed as the company's Chief Executive Officer and a member of the Board of Management of Talanx AG. Over the past ten years under his leadership the Reinsurance division has grown its gross written premium from roughly EUR 11 billion to around EUR 17.5 billion and boosted its contribution to Group net income from some EUR 350 million to around EUR 500 million (Talanx AG share). Having reached retirement age, he will step down on 8 May 2019 following the end of the Annual General Meeting of Hannover Rück SE.