Management changes at HDI Germany: Board of Management member Christoph Wetzel to hand over property/casualty business to Herbert Rogenhofer – Dominik Hennen appointed as Chief Transformation Officer (CTO)
- Herbert Rogenhofer will take over responsibility for the property business on the Board of Management of HDI Germany as from 1 June 2021 and will become Chairman of the Board of Management of HDI Versicherung AG.
- Dr. Christoph Wetzel will step down from his board of management positions at HDI Germany on the best of terms and by mutual agreement.
- Dr. Dominik Hennen will assume the role of CTO at HDI Germany in addition to his duties as a member of the Board of Management of PB insurers.
“I am looking forward to working together with Dominik Hennen even more closely. He headed the ‘KuRS’ optimisation programme as Head of Strategy at HDI Germany until the end of 2016 and played a key role in enhancing our partnership with Deutsche Bank Group last year as a member of the Board of Management of PB insurers. His strategy experience and strong execution skills make him ideally suited to holding the different strands of our ambitious ‘GO25’ programme together and ensuring the project’s success”, said Dr. Christopher Lohmann, the member of Talanx AG’s Board of Management responsible for the Retail Germany division and CIO of primary insurance activities in Germany.
New Transformation unit established
To achieve this, Dr. Dominik Hennen will become a fully authorised representative of HDI Deutschland AG in addition to his duties as a member of the Board of Management of PB insurers. He has also been appointed to the boards of management of HDI Versicherung AG and HDI Lebensversicherung AG. The new Transformation unit, which will have roughly 100 employees, will bring together all the functions that will play a major role in managing the implementation of the strategy programme, i.e. Strategy, Business Organisation and Data & Digital Transformation. In his function as CTO, Dominik Hennen will report directly to Dr. Christopher Lohmann.
The business studies graduate gained an MBA in the USA and a doctorate in Frankfurt am Main. A former professional basketball player, he worked for McKinsey & Company from 2007 to 2014 before joining HDI Germany in February 2014 as Head of Strategy. He has been a member of the Board of Management of PB insurers and of the management of HDI Deutschland Bancassurance GmbH since 2017.
New property/casualty business responsibilities
Herbert Rogenhofer will assume overall responsibility for the property/casualty business with private customers and small and medium-sized enterprises as from 1 June 2021 while also remaining a member of the Board of Management of HDI Systeme AG. He joined HDI Deutschland AG as Chief Digital Officer in June 2017 after a successful period as an entrepreneur. He was appointed to the boards of management of the German Talanx Group’s IT service provider and of HDI Versicherung AG in August 2018. As the new Chairman of the Board of Management of HDI Versicherung AG he will remain responsible for the private customers business. Christian Kussmann, who has been a member of the Board of Management of HDI Versicherung AG since 1 April, will expand the SME business.
Dr. Christoph Wetzel had been a member of the Board of Management of HDI Germany and Chairman of the Board of Management of HDI Versicherung AG since May 2015. “Dr. Wetzel successfully stabilised and enhanced the profitability of our property/casualty business in Germany and progressed its digital transformation. The Supervisory Board would like to thank him warmly for this. I would like to wish him all the best for the future, both professionally and personally. At the same time, I am looking forward to continuing working together with Herbert Rogenhofer and wish him every success in his expanded area of responsibility. He will advance the property/casualty business in Germany with a mix of growth and disciplined cost management”, said Torsten Leue, Chairman of Talanx AG’s Board of Management and Supervisory Board Chairman at HDI Deutschland AG. Dr. Christopher Lohmann added: “Herbert Rogenhofer will energetically implement our new strategy. I would like to thank Christoph Wetzel for his achievements and for our very productive work together, and wish him every success for the future.”
New strategy
The division is planning to leverage its strengths in the SME business and as a partner for banks and brokers to grow its revenue and earnings in the period up to 2025. In the same period, it aims to focus on enhanced customer orientation, agility, efficient digital processes and the ability to think and act like an SME in order to lift the division’s return on equity to the Talanx Group’s target level of more than 8 percent above the risk-free interest rate.
As always, the new appointments to board of management positions are subject to approval by BaFin, the German supervisory authority.
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Disclaimer
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.