Hannover Re CEO to Retire

The Supervisory Boards of Hannover Rückversicherung AG and E+S Rückversicherung AG (Hannover Re) announced that long-time CEO Wilhelm Zeller is retiring at the end of June 2009. Ulrich Wallin, 54, will succeed him as the new Chief Executive Officer of both companies. Zeller has led the Hannover Re Group for more than 13 years.

The announcement noted that Wallin is a qualified lawyer, who “has sat on the Executive Boards of Hannover Re and E+S Rück since 2001. He bears responsibility for the following Central Divisions: Specialty Division, Direct and Facultative, Group Protections and Insurance-linked Securities.

“Wallin embarked on his professional career in 1982 with HDI Haftpflichtverband der Deutschen Industrie V.a.G., Hannover. In 1984 he joined the Foreign Section of E+S Rück, where he built up the portfolio of aviation reinsurance. Prior to his appointment to the Executive Boards of Hannover Re and E+S Rück.” He also “assumed a range of duties for the Hannover Re Group, most notably in the areas of aviation and marine business as well as worldwide facultative property and casualty business.”

Hannover Re also announced: “With effect from the end of 31 March 2009 Mrs. Elke König, the Chief Financial Officer of Hannover Re and E+S Rück, is leaving the Executive Boards of both companies on the most amicable terms in order to tackle new professional challenges. The Supervisory Boards would like to thank Dr. König for her considerable personal dedication and her successful work on behalf of the Hannover Re Group.”

Roland Vogel, 49, who has headed the Hannover Re Group’s Finance and Accounting division since 2001, will succeed her. He is a graduate in economics and has been with the Group since 1989. After initially joining the Internal Auditing unit, he took over as Head of the Business Administration department in 1996.

Source: Hannover Re – www.hannoverre.com