Munich Re appoints new CEO

Munich Re has announced that Andrew Rear will succeed Jonathan Ludbrook as chief executive with responsibility for the UK, Irish, African and Australian life reinsurance markets.

Ludbrook is retiring after almost 29 years with Munich Re.

Rear currently leads the EMEA insurance practice at consultants Oliver Wyman, and is a UK actuary. He begins his new role at Munich Re in November 2010 and will assume overall responsibility towards the end of the year, after a handover from Ludbrook.

Rear will also succeed Ludbrook as the chairman of Munich Re’s underwriting software supplier Allfinanz and it’s UK group risk operation Ellipse.

Munich Re board member Dr Joachim Wenning says: “I am delighted to announce this appointment. Andrew brings with him a wealth of experience in areas such as pricing, risk management, product development and strategy.

“Jonathan Ludbrook is a very hard act to follow. Andrew is a fantastic successor and has ambitious plans for the life reinsurance markets he will oversee.”