Munich Re has announced a major
change in the management of its life reinsurance division following
senior executive Jonathan Ludbrook’s decision to retire from the
global life management team. Ludbrook retires after almost 29 years
with Munich Re.
Succeeding him is Andrew Rear who
will hold the position of CEO. He will be responsible for the UK,
Irish, African and Australian life reinsurance markets. Rear will
also succeed Ludbrook as chairman of Ellipse, Munich Re’s group
risk operation in the UK, and Allfinanz Munich Re’s underwriting
software supplier.
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Rear, a UK-qualified actuary, will join Munich Re from
consultants Oliver Wyman where he currently heads their Europe,
Middle East and Africa insurance practice. Rear begins his new role
at Munich Re in November 2010 and will assume overall
responsibility after completing his transition with Jonathan
towards the end of the year.
