Munich Re has appointed Leonie Schubert (pictured above) as global head of Capital Partners, signaling continuity in a division that has become central to the reinsurance giant's structured solutions and capital markets strategy.
Schubert assumed the role effective March 1, 2026, overseeing the unit's strategic development and international investment operations as the reinsurance market navigates heightened complexity around capital deployment.
Schubert will share leadership with August Proebstl through June 2026, when Proebstl is scheduled to retire. The six-month transition arrangement reflects Munich Re's effort to maintain stability in a business line that has grown increasingly significant to its operations.
Capital Partners is Munich Re's umbrella division for risk trading, insurance-linked securities, catastrophe bonds and retrocession activities. The unit operates global hubs in Munich and Zurich, with recent expansion into Asia-Pacific through offices in Singapore and Beijing.
The division has built considerable muscle in the ILS market. It originates, structures and analyzes both prospective and retroactive reinsurance solutions, while also functioning as an active capital market investor.
August Proebstl previously headed Munich Re's corporate insurance partner unit before taking the helm at Capital Partners.
Schubert brings 19 years of Munich Re experience to the role. Most recently, she served as senior executive for underwriting property from October 2021 through March 2026. Before that, she spent roughly 3.5 years heading property treaty underwriting across the United Kingdom, Ireland, Netherlands and Nordic regions.
Her career trajectory spans multiple European markets – Belgium, Luxembourg, France and Turkey – across treaty underwriting roles. Earlier positions included senior underwriter for financial institutions treaties.
She holds a master of science degree in mathematics from the University of Wisconsin-Milwaukee and is a credentialed actuary under DAV, the German actuarial association.
Munich Re did not announce additional leadership changes or provide details on Schubert's strategic priorities for Capital Partners. The company said it would continue developing the unit's strategic direction under the new leadership structure.
