Munich Re has appointed a new chief executive for South Korea, succeeding Ike Kim, who will step into a new role as Executive Director after nine years at the helm.
Michael Hauer will be Munich Re's new Chief Executive Officer (CEO) for South Korea effective from 1 June 2019, the reinsurance firm said in a press statement on Thursday. Based in Seoul, Hauer will combine his deep knowledge of the firm's global reinsurance capabilities, particularly non-life insurance, with the strengths of a local team of experts to support clients in this market.
«The South Korean market is the seventh largest insurance market worldwide and presents numerous opportunities in traditional and non-traditional insurance and reinsurance. Munich Re has had a long-standing presence in South Korea and there is strong momentum to build on, as we enter our next phase of growth under Hauer’s leadership,» said Roland Eckl, Chief Executive of Asia-Pacific, which includes Japan, India, South Korea, and Southeast Asia.
Track Record
Currently, Hauer is Head of Marine Reinsurance for the Asia Pacific, based in Singapore and responsible for all aspects of Marine treaty and facultative reinsurance. Prior to this, he had led this role from Hong Kong since 2015.
His 27-year career with Munich Re spans several countries in the Asia Pacific. He has held senior positions in Munich Re’s non-life businesses in Asia over the last two decades, having also represented the Group in China. He holds a degree in Insurance from the Academy of the German Insurance Association.
