Hannover Re has announced a leadership transition as Jean-Jacques Henchoz, the current Chief Executive Officer, will not extend his contract and is set to leave the Executive Board on March 31, 2025. Clemens Jungsthöfel, who currently serves as the Chief Financial Officer, will assume the role of CEO starting April 1, 2025. Christian Hermelingmeier from HDI Global SE will take over as CFO on the same date.
Jean-Jacques Henchoz expressed satisfaction with his tenure at Hannover Re: "My time leading Hannover Re has been very fulfilling, both professionally and personally." He acknowledged the contributions of his team and thanked the Supervisory Board for their support. Henchoz plans to pursue non-executive and advisory roles after leaving his position.
Torsten Leue, Chairman of the Supervisory Board of Hannover Re, commented on Henchoz's departure: "We very much regret Jean-Jacques Henchoz' decision." Leue praised Henchoz for making significant transformational changes that have bolstered Hannover Re's market position and cost leadership.
Henchoz has led Hannover Re since 2019 through challenging market conditions. Under his leadership, the company's market capitalization nearly doubled to approximately EUR 29 billion due to strong growth. The return on equity averaged 14.7% over six years.
Leue also spoke highly of Clemens Jungsthöfel: "I am delighted that Clemens Jungsthöfel, a strong leader from our own ranks, has been selected.” He noted Jungsthöfel's excellent reputation among customers and business partners.
Jungsthöfel has demonstrated expertise in his role as CFO at Hannover Re and HDI Global. His experience includes work at KPMG advising insurance companies. He contributed significantly to Hannover Re's strategic direction and financial resilience.
Christian Hermelingmeier will succeed Jungsthöfel as CFO. Since September 2020, Hermelingmeier served as CFO at HDI Global SE where he played a key role in its international growth strategy. Previously Head of Controlling for Talanx Group’s Private and Corporate Insurance Germany division, he holds a doctorate in business mathematics.
Hannover Re is one of the world's leading reinsurers with operations across all lines of property & casualty and life & health reinsurance globally. Established in 1966 with around 3,900 staff worldwide, it is recognized for innovative risk solutions and financial strength.