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Hannover Re

Hannover Re appoints Thorsten Steinmann to the Executive Board to succeed Michael Pickel, who will retire Hannover, 18 March 2024: The Supervisory Boards of Hannover Rück SE and E+S Rückversicherung AG have appointed Thorsten Steinmann (51) as a member of the Executive Board of Hannover Re and E+S Rück effective 1 September 2024. He will succeed Michael Pickel (63), who will retire on 31 December 2024 after 25 successful years at Hannover Re. Thorsten Steinmann joins from Swiss Re, where he was most recently responsible for the reinsurance business in Germany, the Nordics, Austria, Central and Eastern Europe, the Netherlands, and Switzerland. Following a transition period, he will head E+S Rück, the Hannover Re subsidiary responsible for the Groups German business, as Chief Executive Officer effective 1 January 2025, and will be responsible for yet to be determined markets in continental Europe at Hannover Re. "In Thorsten Steinmann, we have been able to appoint an accomplished executive with a highly successful track record in both the insurance and reinsurance industry. I wish him every success in his new role," said Torsten Leue, Chairman of the Supervisory Board of Hannover Re and E+S Rück. "Thorsten Steinmann is a strong successor to Michael Pickel, who has contributed to the success of both Hannover Re and E+S Rück with great leadership and outstanding dedication over more than two decades. On behalf of both Supervisory Boards, I would like to express my sincere thanks to Michael Pickel."

Key Leadership Transition: Hannover Res New Executive Board Member Announced

Executive Board

Thorsten is the Head Northern, Central & Eastern Europe I Managing Director at Swiss Re, where he was promoted to the role in January 2023. Prior to this, he held various positions at Swiss Re, including Head Casualty Underwriting EMEA, Client Executive Global Clients, Client Executive, Key Account Manager, and Director. Before joining Swiss Re, he worked as an Underwriting Manager at GE Insurance Solutions from January 2000 to August 2006. He also served as a Property Underwriter I Managing Broker at Sparkassenversicherung Stuttgart from October 1997 to January 2000 and as a Managing Broker at Mannheimer Versicherungen AG from October 1995 to October 1997.

Retirement

Michael is currently the Vorstandsvorsitzender at E+S Rückversicherung AG since March 2019 and also holds the position of Vorstand at Hannover Re. Additionally, he has been a Mitglied des Aufsichtsrats at Delvag Versicherungs-AG since June 2016. Previously, he served as a Member of the Board of Directors at Glencar Underwriting Managers Inc from July 2011 to March 2021. Prior to this, he was a Direktor at Gerling-Konzern Globale Rückversicherung from February 1996 to January 2000. His earlier roles include Assistent d. Geschäftsführers at Gerling Globale Rappresentanza per l´Italia from 1991 to 1996 and Länderreferent Lebensrückversicherung at Gerling-Konzern Globale Rückversicherung from 1989 to 1991.

Hannover Re is a reinsurance company based in Hannover, Germany. It is the third-largest reinsurance group in the world, with a gross premium of around €33 billion. Founded in 1966, Hannover Re transacts all lines of property & casualty and life & health reinsurance and has a network of over 170 subsidiaries, branches and representative offices on all five continents with a total staff of more than 3,000. The Groups German business is written by the subsidiary E+S Rück.

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