There’s a new man at the helm at Hannover Re.

As reported by Insurance Business last August, Ulrich Wallin stepped down as chief executive of the major reinsurer at the end of yesterday’s (May 08) annual general meeting. This saw Swiss Re alumnus Jean-Jacques Henchoz (pictured) assume the CEO post.

Meanwhile a new supervisory board chairman, Torsten Leue, has been elected, replacing Herbert Haas who will continue to serve as a supervisory board member along with the existing line-up and new member Michael Ollmann. The latter succeeds Immo Querner who has left the supervisory board.

“In Jean-Jacques Henchoz we have secured the services of a very seasoned reinsurance manager who will continue to drive the company’s successful development,” stated Haas last year when Henchoz’s appointment was announced.

Hannover Re, which has adopted a more restrictive underwriting policy on the reinsurance of coal-based risks, reported a group net income of €293.7 million for the three months ended March 31. The latest quarterly profit represented a 7.4% rise from the €273.4 million posted in the same period in 2018.