Carlo Elsinghorst has been promoted from group chief financial officer to group chief executive at Monument Re.
In its announcement, the life reinsurer said Manfred Maske stepped down as group CEO on September 19. His successor has been with the business since 2020, initially serving as chief executive for Ireland before assuming the group CFO post last year.
“Manfred joined Monument Re Group in February 2017, when the company was a relatively new venture,” chair Jonathan Yates noted. “Over six years of dedicated service, Manfred has played an integral role in creating the market-leading business that it is today.
“Together with the senior leadership team, I would like to thank Manfred for his leadership, commitment, dedication, and invaluable contribution to the creation of the Monument Re Group. We wish Manfred the best of success in his future endeavours.”
Elsinghorst, meanwhile, was credited for successfully leading the group’s Irish team through a series of domestic acquisitions. In his most recent role, the former finance chief held responsibility for financial and actuarial reporting and operations, treasury, tax, performance management, and capital management.
Headquartered in British overseas territory Bermuda, Monument Re is known for acquiring life insurance portfolios across Europe. In 2022, the company reported a profit after tax of €132.7 million.
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