Hannover Re Chief Executive Officer Jean-Jacques Henchoz will leave the Executive Board of Hannover Re on 31 March 2025 as he not extending his expiring contract at his own request.

Chief Financial Officer Clemens Jungsthöfel will be his successor as of 1 April 2025, and Christian Hermelingmeier, currently Chief Financial Officer of HDI Global SE, will succeed Clemens Jungsthöfel as Chief Financial Officer of Hannover Re on the same date.

"He (Jean-Jacques Henchoz) has made important transformational changes and strategic decisions with extraordinary commitment and great foresight that have strengthened the company’s long-term position. Under his leadership Hannover Re has further expanded its market position and its cost leadership. I would like to thank him, also on behalf of the Supervisory Board, and wish him all the best and every success in the next chapter of his career", Torsten Leue, Chairman of the Supervisory Board of Hannover Re commented.

Jean-Jacques Henchoz has led Hannover Re very successfully since 2019 through a partially turbulent market environment. During this time, Hannover Re's market capitalisation has almost doubled to about EUR 29 billion thanks to strong, profitable growth. Over the past six years, the return on equity has averaged 14.7%, the press-release says.