Deutsche Rück reveals new CEO
The supervisory boards of Deutsche Rückversicherung and the Association of German Public Insurers (VöV) appointed Frank Schaar as CEO of both companies with immediate effect.
Schaar’s predecessor Arno Junke left both positions as of Dec. 31, 2017. In a statement, Junke and the companies' supervisory bodies said both parties had reached an amicable agreement to end their collaboration.
Schaar has been deputy CEO of the companies in the group of public insurers since March 2010. At the start of 2011 he also became managing director of DR Swiss, a subsidiary of Deutsche Rück.
Deutsche Rück and its subsidiary Deutsche Rückversicherung Schweiz (DR Swiss) focus on reinsurance in continental European markets.
Germany’s legally independent public insurers have organised themselves on a national basis as the Association of German Public Insurers. The Association is the central service provider of the second largest group of the German primary insurance market and also acts as reinsurer of its member companies in life insurance and liability, accident and motor insurance.
Together, the Association and Deutsche Rück Group generate gross premiums of around €1.6 billion.
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