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New Executive Board Members

  • Board member takes the helm at Clarendon
  • New appointments to the Executive Board

Hannover, 30 August 2001:

Effective 1 September 2001, Dr. Detlef Steiner currently a member of Hannover Re's Executive Board with responsibility, inter alia, for program business is to become President and Chief Operating Officer of Hannover Re's largest subsidiary, Clarendon Insurance Group, New York. With effect from 1 January 2002, Dr. Steiner will also assume the function of Chief Executive Officer of the company.

Dr. Steiner's appointment marks a further step towards safeguarding the profit potential of the market leader in US program business. As emphasised by Wilhelm Zeller, Chairman of the Executive Board of Hannover Re, Dr. Steiner's expertise makes him ideally suited for assuming this important task. Henceforth, Mr. Zeller himself will take responsibility for Group-wide program business on Hannover Re's Executive Board.

Ralph Milo, Clarendon's present Chairman and Chief Executive Officer, will retire upon completion of his contract as at 31 December 2001. The company will, however, continue to be able to call on his outstanding marketing expertise in the field of US program business.

Responsibility for North American property and casualty reinsurance the Hannover Re Group's largest and most important market which Dr. Steiner has thus far also been in charge of, will now be assumed by Executive Board member Jürgen Gräber. In addition to his unchanged responsibility for financial reinsurance, Mr. Gräber will in future coordinate the entire non-life reinsurance of the Group.

The departure of Dr. Steiner from the Executive Board of Hannover Re and Mr. Grärber's assumption of new functions have given rise to further reallocations of responsibility and appointments to the Executive Board. With effect from 1 September 2001, the Supervisory Board of Hannover Re has appointed André Arrago and Ulrich Wallin as deputy members of the Executive Board.

Mr. Arrago, who has been with Hannover Re since 1985 and most recently served as Managing Director in property and casualty treaty reinsurance with responsibility for Romance and Arabic-speaking countries as well as Northern and Eastern Europe, will continue to be responsible for these markets in his role on the Executive Board. Additionally, he shall assume responsibility for property and casualty reinsurance in the regions of Asia and Australasia.

Mr. Wallin will henceforth assume responsibility in property and casualty treaty reinsurance for the UK and Irish markets as well as for the Specialty Division (which encompasses worldwide facultative business in the casualty and property lines as well as worldwide treaty and facultative business in the marine, aviation and space lines). Mr. Wallin has been with the Hannover Re Group since 1984 and most recently served as Managing Director Specialty Division.