Munich Re shakes up P&C underwriting leadership across Asia & Africa
Munich Re shook up P&C underwriting leadership throughout its Asian and African operations on belief that the capabilities and talents it has built throughout the regions merit a “leaner at the topo” stance that allows the group to move closer to its clients.
Munich Re hopes to achieve “greater localisation of the Underwriting teams and closer client proximity in-country” and strengthen the mandate of local market underwriting positions. Changes take effect from 1 July 2024.
Munich Re’s management board member for APAC and MEA, Achim Kassow, said: “Munich Re has grown strongly and profitably in Asia Pacific & Africa in recent years. One building block of this success has been the transfer of know-how and decision-making authorities to the region. We are now taking the next step in this process - Munich Re's revised set-up in the region will be leaner at the top and closer to the markets.”
Leadership set-up Japan, India, Korea and South-East Asia
Hitesh Kotak will be chief executive officer (CEO) - Japan, India, Korea and South-East Asia, based in Singapore. He will lead Munich Re's P&C business in these locations. Kotak joined the Group in 2014 and has been responsible for Munich Re’s P&C operations in India, Middle East & Africa since 1 January 2023. He has also been CEO, India since 2017.
Japan
Florian Gruson will be appointed CEO Japan. Gruson has been leading global sales and distribution for the Group in Munich since 2021. Prior to this he led the Japan client management team for three years. He succeeds Brian Jinzenji, who will retire later this year.
Haruka Narahashi will expand her current responsibility as head of treaty underwriting Japan to Korea. She has been with the Group since 2017 in senior roles leading property treaty and underwriting.
Korea
Ajeet Phatak will be appointed CEO Korea and will relocate to Seoul. This appointment will take effect from 1 August 2024. He has headed client management in Japan since 2021 and previously led India’s Agro business unit and was part of the startup team for the India Branch.
South-East Asia
Michael Hauer will take up the role of head of P&C South-East Asia based in Singapore. He has been CEO, Korea since 2019. This appointment will take effect from 1 September 2024, following a handover with Phatak.
Joachim Zagrosek will be head of treaty P&C underwriting South-East Asia & India. This follows a successful three years leading the regional underwriting centre for Japan, Korea, India and South-East Asia.
India
Surbhi Goel will relocate to Mumbai to be CEO India with effect from October 2024, subject to regulatory approval. Goel has been based in Singapore heading P&C South-East Asia since 2022. Goel was previously in senior underwriting, business and reinsurance roles at a leading insurer in India.
Leadership set-up Australasia, Greater China, MENA, Africa, Cyber
Roland Eckl will be CEO - Australasia, Greater China, MENA, Africa, Cyber, based in Munich. Eckl was CEO responsible for Australasia, Japan, Korea and South-East Asia from 1 January 2023. He was responsible for establishing the Group’s regional centre for P&C business in Singapore in 2016.
Greater China
Serene Chan will be appointed head of P&C Greater China, based in Beijing. She has led the growth of the cyber business in Asia Pacific since 2018.
MENA
Belhassen Tonat will be appointed client management executive MENA, based in Dubai and will be responsible for the MENA region and the establishment of the new Dubai P&C desk. He succeeds Andreas Pollmann who will focus as client management lead Israel based in Munich.
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