Chief Financial Officer (CFO) of German reinsurer Hannover Re, Roland Vogel is retiring on 30 September 2020 after more than 30 years of service to the firm and will be succeeded by Clemens Jungsthöfel the current CFO of HDI Global SE.
Vogel will continue to share his expertise in an advisory capacity and will remain a member of the Supervisory Board or Advisory Board at certain firms.
Throughout his time with Hannover Re, he has successfully navigated the Group through the 2008/2009 global financial crisis and prepared it for Solvency II, playing a significant role in enhancing the value and reputation of the business for all stakeholders.
Vogel’s successor, Jungsthöfel has served on the Executive Board of HDI Global SE since May 2018 with responsibility for the areas of controlling, risk management, corporate development and passive reinsurance.
Jungsthöfel is a seasoned professional and has extensive experience in both finance and insurance, having previously worked as a partner with KPMG where he had responsibility for auditing and advising insurance undertakings. The focus of his work at KPMG was on internationally operating insurance groups including industrial line and specialty insurers and reinsurers.
Torsten Leue, chairman of the Supervisory Boards of Hannover Re, commented on Vogel’s departure: “On behalf of the Supervisory Boards of Hannover Re and E+S Rückversicherung I would like to thank Roland Vogel most sincerely for his commendable achievements.
“He deserves our special recognition for his extremely valuable contribution to the successful development of the Hannover Re Group over the past 11 years as Chief Financial Officer and to the exceptionally positive performance of the Hannover Re share.”
Jean-Jacques Henchoz, chief executive officer (CEO) of Hannover Re, added: “I would like to express my considerable gratitude to Roland Vogel for his outstanding and very successful work for our Group. With his expertise, his obliging manner and his humanity, he has made an extremely positive value contribution to Hannover Re. I would also like to thank Roland Vogel for the support that he has given me since I took on the role of CEO.”
Adding: “I know Clemens Jungsthöfel very well from numerous conversations that we have had. With his extensive experience in finance and his cultural awareness he is an excellent fit for Hannover Re. I am greatly looking forward to working with him.”
Leue added: “Clemens Jungsthöfel is a very experienced, well-versed and respected finance expert. I am delighted to have recruited him for the MDAX-listed Hannover Rück SE and I wish him every success in his new role.”