The Supervisory Board of Hannover Rück SE has appointed Sven Althoff (44) as a member of the Executive Board with effect from 1 August 2014. Sven Althoff will succeed André Arrago, who is retiring at the end of August 2014. Mr. Arrago has served on the Executive Board since 2001 with responsibility for non-life treaty reinsurance worldwide.
Hannover, 11 March 2014:
The Supervisory Board of Hannover Rück SE has appointed Sven Althoff (44) as a member of the Executive Board with effect from 1 August 2014.
Sven Althoff will succeed André Arrago, who is retiring at the end of August 2014. Mr. Arrago has served on the Executive Board since 2001 with responsibility for non-life treaty reinsurance worldwide.
"I am delighted that in Mr. Althoff we have been able to appoint to the Executive Board an exceptionally well-versed reinsurance expert who is also intimately familiar with Hannover Re's business philosophy thanks to his many years of service to the company", Chief Executive Office Ulrich Wallin stated.
A graduate in economics, Mr. Althoff embarked on his professional career in 1993 with Hannover Re as an underwriter for US treaty business. Since 2003 he has served as Managing Director responsible for aviation and marine business worldwide as well as non-life treaty reinsurance in the United Kingdom and Ireland. Henceforth, Sven Althoff is to assume responsibility on the Executive Board for Hannover Re's non-life reinsurance alongside Jürgen Gräber and Dr. Michael Pickel. Mr. Althoff is married with two children.
The appointment is still subject to the approval of the Federal Financial Supervisory Authority (BaFin) in accordance with the Insurance Supervision Act.
Hannover Re is one of the world’s leading reinsurers. It transacts all lines of property & casualty and life & health reinsurance and is present worldwide with more than 3,500 staff. German business of the Hannover Re Group is written by the subsidiary E+S Rück. Established in 1966, Hannover Re is recognised as a reliable partner for innovative risk solutions, exceptional customer intimacy and financial soundness. The rating agencies most relevant to the insurance industry have awarded both Hannover Re and E+S Rück outstanding financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior".
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