Munich Re has unveiled a leadership change at the top of its life and health reinsurance business across Asia Pacific, Middle East and Africa, with Gavin Maistry set to succeed Daniel Cossette, who is retiring after 19 years with the German group.
Maistry will take over as chief executive for life and health APAC MEA during the second half of 2026, once a successor has been appointed to his current role as global chief actuary, life and health. He will report to Mari-Lizette Malherbe, a member of Munich Re's board of management.
During his tenure, Cossette established the regional center in Singapore, launched the Financially Motivated Reinsurance business, and expanded the High Net Worth segment from the city-state.
He also rolled out an interlocked model combining reinsurance, digital solutions and third-party administration services through MedNet in the Middle East.
On the technology side, Cossette oversaw software businesses Munich Re HealthTech and Munich Re Automation Solutions, and established Munich Re Digital Solutions in Asia Pacific.
"With a keen eye on market sentiments, growth opportunities, technological developments and operational optimization, Daniel propelled the business forward to meet the evolving needs of the dynamic and diverse markets in the region," Malherbe said.
She added that the firm is deeply appreciative of his dedication and leadership, describing his achievements as an enduring source of inspiration.
Maistry has been with Munich Re since 2008 and brings more than 30 years of reinsurance and insurance experience. He previously served as regional chief risk officer and deputy CEO for life and health APAC MEA before stepping into the global chief actuary role.
Malherbe said the group's markets across Asia, Australia, the Middle East and Africa are central to Munich Re's growth targets in life and health reinsurance, adding that Maistry is well placed to drive that agenda across traditional and financial reinsurance, longevity solutions and strategic transactions.
"Finding the best solution for our clients is and will continue to be the driving force of our Life and Health business in the region. We want to continue to grow our portfolio in APAC MEA," Maistry said.
The leadership transition lands as Munich Re posted net income of €1.7 billion for Q1 2026, up from €1.1 billion a year earlier, with insurance revenue from contracts issued reaching €15.7 billion.
Life and health reinsurance contributed €332 million to the Q1 result, with the group reaffirming a full-year 2026 net income target of €6.5 billion.
In his new role, Maistry will oversee approximately 600 professionals across 16 branches and representative offices, serving more than 600 clients in APAC MEA.
He will also provide strategic direction for four non-reinsurance divisions, including MedNet, Munich Re Automation Solutions, Munich Re HealthTech and Munich Re Digital Solutions Beijing, with around 1,100 employees across 16 countries.
