Munich Re is restructuring its management team to focus on four specific areas – individual protection reinsurance, group risk reinsurance, longevity and financial reinsurance.
Director of client management Andrew Francis is now director of individual protection, responsible for operations in the UK and Ireland. This area of the business was split across three different parts of Munich Re.
Lee Lovett, previously head of group risk, has been appointed director of group risk. John Woodford is now head of disability, which includes income protection and critical illness. Mark Flint has been appointed director of structured reinsurance and longevity.
Head of marketing Andy Milburn says: “The previous structure was looking old-fashioned. In the past, we were structured around processes and the work that we did rather than the marketplace. Now we are structured around the marketplace and what we do for insurance companies.
“While insurers may not notice any difference in the early stages, Munich Re expects this will further improve its customer focus and ability to deliver business results.”