PRINCETON, N.J., June 21, 2016 /PRNewswire/ -- Munich Re, US has appointed Stephan Hochburger and Paul Ludwig to executive positions in the Reinsurance Division (RD).
Effective July 1, 2016, Stephan Hochburger and Paul Ludwig will serve as Senior Vice Presidents and Client Executives for the Reinsurance Division. They will report to Steven Levy, President of the Division, and serve on the RD Executive Leadership Team.
Hochburger is currently head of the Property Certificate and Program team within RD. In his 29–year career with the company, he has been an RD Client Manager, and has extensive treaty and facultative underwriting experience in both Casualty and Property. Hochburger received an Insurance Degree from IHK Munich and holds the CPCU and ARe designations.
Ludwig currently manages the Financial/Strategic Management and Underwriting Support department within the Specialty Markets Division. He was previously head of the Planning & Controlling Department. Prior to joining Munich Re in 2002, Ludwig held positions with Tillinghast-Towers Perrin and the Federal Reserve Bank of New York. He received his bachelor's degree from Georgetown University and MBA from Columbia Business School. He also holds the ARe designation.
"Stephan and Paul continuously demonstrate their skills as leaders and strategic thinkers, and will be great additions to the RD Leadership Team," said Levy.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2015, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.1bn on premium income of over €50bn. It operates in all lines of insurance, with more than 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Munich Re's primary insurance operations are concentrated in the ERGO Group. ERGO is one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2015, ERGO posted premium income of €17.9bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments (excluding insurance-related investments) amounting to €215bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
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SOURCE Munich Re