Munich Re unit NewRe's CEO departs after 16 years; successor revealed

Munich Re subsidiary New Reinsurance Company (NewRe) has appointed Thomas Braune as its new chief executive officer, succeeding Renate Strasser, who is leaving the Munich Re group after 16 years.

The Zurich-based reinsurer said Strasser has decided to seize an opportunity outside of the group.

Braune joins NewRe with more than 25 years in the industry. Since joining Munich Re in 1992, he has held many strategic management functions. Most recently, he was in charge of Munich Re's life and health reinsurance business in Europe, Latin America and the Middle East.

Braune will assume his new role on 1 October 2020 and lead the company through the upcoming end of year renewals.

NewRe said its "strategy remains unchanged and strongly embedded in intensive collaboration with brokers on standard P&C reinsurance". Going forward, the reinsurer will continue to write significant lines of treaty excess of loss with a preference for natural perils and motor exposures with European cedents.

Claudia Hasse, vice president, NewRe board of directors, said: “We are fortunate to have someone of Thomas Braune’s calibre and experience step up to lead NewRe. With him we have appointed a strong strategic thinker and communicator who is customer-focused and will vastly drive and strengthen NewRe’s financial performance.”

"With his deep understanding of the products and markets NewRe operates in, he will be a great asset to successfully execute on the company’s strategy and a perfect fit for the Zurich-based player’s unique DNA.

Braune commented: “I am honoured and excited to be taking on leadership responsibility for NewRe. It is a privilege to be part of an organisation that delivers high quality services and innovative solutions to its clients and partners through a dedicated team of experienced professionals.”