Munich Re appoints Steven Chang as CEO, Greater China region

Executive played a major role in establishing the business in China

Munich Re appoints Steven Chang as CEO, Greater China region

Insurance News

By Gabriel Olano

Munich Re has appointed Steven Chang (pictured) as chief executive for Greater China. Based in Beijing, he will lead the company’s non-life business and operations in the region, which includes mainland China, Taiwan, Hong Kong, and Macau.

Chang reports to Tobias Farny, chief executive, Asia-Pacific – Greater China and Australia/New Zealand, who is based in Munich. He succeeds Christoph Hoch, who has returned to Germany to take up the role of regional head of facultative & corporate, Iberia and Latin America.

Under Hoch’s leadership, Munich Re expanded its presence in the Greater China region and enhanced its innovation offerings to clients through the launch of Smart Thinking Consulting (Beijing) Company, a dedicated tech-enabled insurance company, as well as its Beijing innovation lab, the reinsurer said in a statement.

Chang joined Munich Re in 1997 and played a key role in the establishment of Munich Re in China. He was appointed CEO of the Beijing branch in 2009, with expanded responsibility for Greater China non-life clients and markets from 2013. Between 2016 and 2018, Chang worked at Munich Re Syndicate in London as head of cross-platform business development.

New head of Munich Re’s technology-based consulting services in Beijing

Alongside Chang’s appointment, Munich Re announced that Zi Jia Li will take on the role of managing director, Smart Thinking Consulting (Beijing) Company, also known as SiTao Consulting.

Reporting to Chang, Li will also be in charge of Munich Re’s innovation lab in Beijing.

Li has more than 10 years’ experience in digital insurance in Greater China, Korea and Southeast Asia. Before joining Munich Re, he was chief digital officer at Chubb China and led Chubb’s insurtech and distribution partnership with major technology players in China by leveraging various technologies such as big data, image processing, and artificial intelligence. He has also served as head of digital programs/head of digital for China at AIG, as digital program manager at Whittington Private Equity/Direct Asia and as digital transformation consultant at Accenture Singapore.

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