The reinsurance industry is facing a period of stagnation where, as a whole, it will not grow.
That is the view of Ulrich Wallin, the chief executive of Hannover Re, who explains how he will tackle this challenge while also juggling the not insignificant problem of negligible investment returns—all while maintaining consistency and discipline in the company.
Unlike many newly appointed chief executives of reinsurers, when Ulrich Wallin took the reins of Hannover Re two years ago, in 2009, he did not take charge of a company in turmoil or in need of change. He has already been on the board of the business for eight years and the company was stable. “The change was not revolutionary, but one more of continuity,” he says.
But as any football manager will tell you, taking over an organisation already performing well can be something of a poisoned chalice. It can be easier to make tough decisions and achieve fast and obvious improvements in companies that, for whatever reason, are ailing. If things are running smoothly already, beware rocking the boat too much.
Hannover Re, Ulrich Wallin, Leadership, Alternative risk transfer, Growth, Stability