Doris Russi Schurter will not stand again as Chairwoman of Helvetia’s Board of Directors – Dr Axel Lehmann expected to serve as Chairman from 2023
For personal reasons, the current Chairwoman of the Board of Directors Doris Russi Schurter will not stand for re-election at the next Shareholders’ Meeting of Helvetia Holding AG in April 2022. This decision is related to a blow of fate her family suffered in summer 2021. Doris Russi Schurter has been a member of the Board of Directors since 2008 and also served as its Vice-Chairwoman for several years. She has been Chairwoman since 2018. The Vice-Chairman Dr Thomas Schmuckli pays tribute to her services: “Under the stewardship of Doris Russi Schurter, Helvetia finalised the acquisition and integration of the Spanish insurance company Caser, among other things. This was a decisive move forward in Helvetia’s development into a European insurance company. We deeply regret the decision of Doris Russi Schurter, but have the greatest understanding for her situation. On behalf of the entire Board of Directors, I would like to warmly thank Doris Russi Schurter for her many years of service to our company. We wish her much strength for the future.” Dr Axel Lehmann will be proposed to the coming Shareholders’ Meeting as a new member of the Board of Directors. The plan is to propose Dr Axel Lehmann for election as Chairman of the Board of Directors to the 2023 Shareholders’ Meeting. Dr Axel Lehmann is a member of the Board of Directors and Chairman of the Risk Committee of Credit Suisse. Among other posts, Dr Axel Lehmann previously served as member of the Board of Directors of UBS Group AG and later as a member of the Group Executive Board as COO as well as President Personal & Corporate Banking and President UBS Switzerland. From 1996 to 2015, he worked in various functions at Zurich Insurance Group, and was a member of the Group Executive Committee for almost 14 years. He is Chairman of the Executive Committee of the Institute of Insurance Economics (I.VW-HSG) and adjunct professor at the University of St.Gallen. The 62-year-old Swiss earned his doctorate from and qualified as a professor at the University of St.Gallen. He also completed the Advanced Management Program of the Wharton School of the University of Pennsylvania. “In Axel Lehmann, Helvetia is gaining a profound expert in the insurance business as well as someone with proven management experience in national as well as international companies and long-standing experience in the financial sector”, says a delighted Dr Thomas Schmuckli. Dr Thomas Schmuckli expected to serve as Chairman of the Board of Directors until 2023The current Vice-Chairman Dr Thomas Schmuckli is expected to serve as Chairman of the Board of Directors from the 2022 Shareholders’ Meeting to the 2023 Shareholders’ Meeting. Dr Thomas Schmuckli will therefore be proposed for election as Chairman of the Board of Directors for this period to the 2022 Shareholders’ Meeting. Due to the maximum term of office, Prof. Christoph Lechner will leave the Board of DirectorsHaving reached the maximum term of office for members of the Board of Directors, Prof. Christoph Lechner will also not stand for re-election at the 2022 Shareholders’ Meeting. He has been a member of the Board of Directors since 2006 and has served as a member of various committees, in particular the Strategy and Governance Committee. Dr Thomas Schmuckli: “We would like to warmly thank Christoph Lechner for his valuable commitment to Helvetia. In the past 15 years, he played a major role in shaping the future of the company.” Nomination of Luigi Lubelli pays tribute to the importance of the European businessLuigi Lubelli will be nominated as a new member of the Board of Directors at the coming 2022 Shareholders’ Meeting. The 52-year-old Italian Luigi Lubelli lives in Spain and has long-standing operational and strategic experience in the insurance business in Italy and Spain, two of Helvetia’s important country markets. In particular, Luigi Lubelli was Group Chief Financial Officer at Assicurazioni Generali in Italy and Deputy General Manager for Risks and Capital Markets – Group CRO at Mapfre in Spain. Dr Thomas Schmuckli: “With the appointment of Luigi Lubelli, the composition of our Board of Directors will reflect Helvetia’s European orientation even more strongly.”
SCOR Chairman Denis Kessler has been appointed Chairman of the Reinsurance Advisory Board
The Reinsurance Advisory Board (RAB) is represented by the seven largest European reinsurance firms – Gen Re, Hannover Re, Lloyd’s of London, Munich Re, PartnerRe, SCOR and Swiss Re – which together represent more than 50% of total reinsurance premium income worldwide.
The RAB aims to stimulate and maintain a stable, innovative and competitive reinsurance market environment by promoting regulatory frameworks that facilitate global risk transfer through reinsurance and other insurance-linked capital solutions.
Denis Kessler already held the position of Chairman of the RAB from 2009 to 2010 and is taking over the chairmanship in 2021 from Swiss Re Chief Executive Officer Christian Mumenthaler, who has held the position for the last two and a half years. This new appointment comes at a critical stage in the review of the European regulatory regime Solvency 2, for which the legislative process has just started with the recent release of the European Commission Proposal.
SCOR Chairman Denis Kessler wins Insurance Insider’s 2021 Lifetime Achievement Award
Denis Kessler was presented with the Lifetime Achievement Award at the annual Insurance Insider Honours awards ceremony in London on 28 September. This award recognizes the outstanding contribution he has made to the industry for more than thirty years.
Denis Kessler, who currently serves as Chairman of SCOR, is an industry leader who joined the Group as Chairman and Chief Executive Officer in 2002, when the company was on the brink of collapse. Over the past nineteen years he has turned the SCOR group around in an outstanding way, shaping it into a leading global company and the world’s fourth largest reinsurer, with a rating of AA-. While the transformation and successful development of SCOR is probably his most visible achievement, Denis Kessler has been a key contributor to the (re)insurance industry for more than three decades, having authored important academic works on savings and insurance as a university professor and advocated for the sector in many industry associations, such as the Geneva Association, the Global Reinsurance Forum, the Reinsurance Advisory Board, the International Insurance Society and the Insurance Development Forum.
When collecting the award, he said “I gave my body to insurance and reinsurance throughout my lifetime, maybe my soul too, but it has been a fantastic journey.” This award adds to the numerous distinctions received by Denis Kessler over the length of his career with SCOR, among which:
• Named “Honorary Freeman of the City of London” in 2016;• Awarded the 2014 Prix du Stratège in Paris by Emmanuel Macron, who was then French Minister of the Economy, Industry and the Digital Sector;• Elected to the “Insurance Hall of Fame” by the International Insurance Society in 2014, the highest honour in the global insurance industry;• Awarded “Outstanding Contributor of the year – Risk” by Insurance Insider magazine in 2014;• Awarded “Reinsurance Company CEO of the Year” at the 2013 Reactions London Market Awards;• Elected 2012 “Financier of the Year”, an award run by ANDESE, the French National Association of Doctors of Economics and Management Science;• Awarded “Industry Personality of the Year” at Insurance Day’s 2012 Worldwide Reinsurance Awards;• Awarded “Reinsurance CEO of the Year” by Intelligent Insurer magazine in 2011;• Awarded “Reinsurance Company CEO of the year” at the 2011 Reactions London Market Awards.
Denis Kessler was named “Knight of the Order of Saint Charles” in 2019 by Albert II, Prince of Monaco. He is also Officer of the French Legion of Honour and Officer of the National Order of Merit.
Sérgio Rial to take over as chairman of Santander Brazil’s board of directors as of January 2022
Sérgio Rial, CEO of Santander Brazil and regional head of South America for the Santander Group, is to be appointed chairman of Santander Brazil’s board of directors, beginning 1 January 2022. Following nearly seven years as CEO of the Brazilian subsidiary, Rial is to step down from his executive role and will be succeeded by Brazilian Mario Roberto Opice Leão, who has been head of Santander Brazil’s Corporate Business division since 2015.
Sérgio Rial’s responsibility as regional head of South America for the Santander Group will pass to Carlos Rey de Vicente, who will lead the region from 1 January 2022. Mr Rey, who is currently the vice president of Finance at Santander Brazil and a member of its executive committee, has worked closely with Sergio Rial in recent years in developing and executing growth plans within the South America region. Having previously worked in the America Division of Santander Group, Carlos Rey de Vicente is deeply knowledgeable of the region, with more than 20 years of experience in Latin America, and the Brazilian market itself, where he has been working for more than seven years.
Commenting on Sergio, Mario and Carlos’ appointments, Ana Botín, executive chairman of Banco Santander, said: “Back in 2015 one of my top priorities was to put in place an outstanding leadership team in Brazil, and after a thorough process, the board and I were clear Sergio was the right person for us. Since then Sergio and his team have helped Santander Brazil become one of the most profitable and efficient banks in South America, with a strong track record in innovation and customer focus – leveraging the power, connectivity and opportunities that come from being part of one of the largest banking groups in the world. A special thanks to Sergio for his leadership in the last seven years, which has delivered beyond our expectations on every front. I look forward to working with him, Mario and Carlos as we continue to deliver on our strategic goals, helping people and businesses to prosper, and building ‘One Santander’.”
Sergio Rial said: “Over the past two years, the board of directors and I have worked together with group management to ensure we have a seamless succession strategy, leveraging the strength and continuity within our current management team, who together have led one of biggest transformations in the financial industry. Our goal is to continue building on the success of the past seven years, and I look forward to working with Mario and the team as we begin a new phase in the company’s development based on a brave, fearless, intelligent and, above all else, human culture.”
The success of Santander Brazil in recent years has been supported by a robust and diversified business ecosystem, ranging from Getnet and Toro Investimentos to the launch of fintechs in corporate benefits (Ben Visa Vale), personal loans (Sim) and debt renegotiation (emDia). The strategy also involved the strengthening of businesses such as Santander Financiamentos and Webmotors, as well as achieving leadership status or expanding in several segments, namely cards, agribusiness, mortgages, education, ESG (enviromental, social, governance), culture and sports. Over the last few years, Santander Brasil has registered the best efficiency ratio and one of the highest return on equity (RoE) in the industry.
Mario Roberto Opice Leão, who has been a member of Santander Brasil’s executive committee for four years, was also placed in charge of medium-sized companies at the bank last year, expanding the scope of his responsibilities. He has over 25 years of experience and a bachelor’s degree in production engineering from the Escola Politécnica de São Paulo. Before joining Santander in 2015, Leão had a successful career in leading roles in Corporate and Investment Banking at Citibank, Goldman Sachs and Morgan Stanley. He will also be appointed as a member of the board of directors of Santander Brazil.
Mario Leão’s current responsibilities will be assumed by João Marcos De Biase. As a result, in addition to De Biase, as of January, Santander Brazil’s Executive Committee will include Andrea Almeida, who joined the bank this year after serving as CFO at Petrobras, and will be responsible for the Finance VP; and Elita Vechin Pastorelo, currently the legal officer at the Wholesale Banking division, will lead the Human Resources and Ombudsman VP. With that, the bank’s executive committee, which is increasingly diverse, will have four women, since Patricia Audi continues to lead the Institutional Relations, Sustainability and Events units, and Vanessa Lobato will take over the Retail division, the main business area of the company, succeeding Juan Moreno.
After a highly successful career in the Brazilian financial system, Álvaro de Souza will step down from Santander Brazil’s board of directors, which, in addition to Rial, will also include Angel Santodomingo and Alberto Monteiro Neto as members, both of whom remain in their roles at the helm of the CFO and Wealth Management divisions, respectively.
The changes outlined above are subject to the receipt of all necessary approvals.
Thierry Cahn is appointed Chairman of the Groupe BPCE Supervisory Board
The Supervisory Board, which convened today following the Group’s Annual General Shareholders’ Meeting, appointed Thierry Cahn, who also serves as Chairman of the Board of Directors of Banque Populaire Alsace Lorraine Champagne, to replace Pierre Valentin as Chairman of the Groupe BPCE Supervisory Board. In addition, Eric Fougère, who is also Chairman of the Steering and Supervisory Board of the Caisse d’Epargne Bourgogne Franche-Comté, was elected Vice-Chairman of the Groupe BPCE Supervisory Board.
The Supervisory Board warmly thanked Pierre Valentin for his personal commitment and expressed their deep gratitude for his contribution to the Group and all its member companies during his term as Chairman of the Supervisory Board. The Groupe BPCE Management Board, whose term of office runs until May 2023, remains unchanged. The Groupe BPCE Supervisory Board is comprised of 19 members, each elected for a term of six years.
In addition to the Chairman Thierry Cahn, the 6 other members appointed by the Banques Populaires are:
The Chairs of the following Banque Populaire Boards of Directors
Catherine Mallet – Banque Populaire Occitane
Marie Pic-Pâris Allavena – Banque Populaire Rives de Paris
Gérard Bellemon – Banque Populaire Val de France
Bernard Dupouy – Banque Populaire Aquitaine Centre Atlantique
The Chief Executive Officers of the following Banques Populaires
Olivier Klein – BRED Banque Populaire
Yves Gevin – Banque Populaire Rives de Paris
In addition to the Vice-Chairman Eric Fougère, the six other members appointed by the Caisses d’Epargne are:
The Chairs of the following Caisse d’Epargne Steering and Supervisory Boards
Catherine Amin-Guard – Caisse d’Epargne Loire Drôme Ardèche
Françoise Lemalle – Caisse d’Epargne Côte d’Azur
Benoit Pellerin – Caisse d’Epargne Normandie
Alain Di Crescenzo – Caisse d’Epargne de Midi-Pyrénées
The Chairs of the following Caisse d’Epargne Management Boards
Alain Denizot – Caisse d’Epargne Rhône-Alpes
Didier Patault – Caisse d’Epargne Ile de France
The three independent members are:
Valérie Pancrazi, Chair of Vap Conseils
Anne-Claude Pont, Executive Chair, Wilov
Kadidja Sinz, Europe Director, Liberty Specialty Markets
The two employee representatives, appointed by the trade union organizations representing employees, are:
Bertrand Guyard, CFDT
Nicolas Getti, UNSA
The following persons also take part in Board meetings in their capacity as non-voting members:
André Joffre, President of the Fédération Nationale des Banques Populaires, Chair of the Banque Populaire du Sud Board of Directors
Dominique Goursolle, President of the Fédération Nationale des Caisses d’Epargne, Chair of the Steering and Supervisory Board of the Caisse d’Epargne Aquitaine Poitou Charente
Maurice Bourrigaud, Chief Executive Officer of Banque Populaire Grand Ouest
Joël Chassard, Chair of the Management Board of the Caisse d’Epargne Provence–Alpes Corse (CEPAC)
Bruno Deletré, Chair of the Management Board of the Caisse d’Epargne Grand Est Europe
Daniel Karyotis, Chief Executive Officer of Banque Populaire Auvergne Rhône Alpes
Pierre Valentin, former Chairman of the Groupe BPCE Supervisory Board, said: “It is with deep emotion that I step down today as Chairman of the Board, after having experienced at first hand some of the key moments in the life of our Group such as its far-reaching transformation and its ongoing development in this unprecedented period marked by the health crisis. I would like to take this opportunity to express my deep pride in having worked alongside you all in these historic times, and I wish Thierry Cahn every success as he takes over from me as Chairman of the Board.”
Thierry Cahn, Chairman of the Groupe BPCE Supervisory Board, said: “Along with all the other members of the Supervisory Board, I would like to take this opportunity to pay tribute to Pierre Valentin and wholeheartedly applaud his numerous achievements and his outstanding commitment to the general public interest in the unprecedented context of the health crisis. I am delighted to follow in his footsteps, and I sincerely hope to fulfill my mandate as Chairman of the Groupe BPCE Supervisory Board in a spirit of humility and goodwill. The Group, whose performance has been outstanding, has successfully risen to meet new challenges. It possesses all the flexibility it needs to adapt to a constantly changing economic and social environment. The Supervisory Board will carry out to the full the different tasks assigned to it, in harmony with all the Group’s senior management team. As it has always done since its creation, it will endeavor to ensure the smooth functioning of the company and of all its constituent parts, the pursuit of its strategy, the protection of its employees, the careful management of risks, and full compliance with our cooperative values. Our cooperative shareholders and our customers must remain the key focus of our actions. Let us be proud to belong to this fine enterprise, boasting deep and vibrant roots in society as a whole.”
Biographical profile of Thierry Cahn, Chairman of the Groupe BPCE Supervisory Board
Thierry Cahn (64) has served as a Banque Populaire Board Director since 1999, and became Chairman of the Banque Populaire du Haut-Rhin Board of Directors in 2000 before being appointed Chairman of the Banque Populaire d’Alsace Board of Directors in 2003 and Chairman of the Banque Populaire Alsace Lorraine Champagne Board of Directors in 2014. He also serves as a member of the Supervisory Board of BCP Luxembourg SA. Thierry Cahn is a lawyer at the Court of Appeal of Colmar and former Chairman of the Bar Association. He is also President of the Musée Unterlinden association in Colmar.
Thierry Cahn, who has been a member of the BPCE Supervisory Board since July 2009, served as Vice-Chairman of the BPCE Supervisory Board since May 2019.
Biographical profile of Eric Fougère, Vice-Chairman of the Groupe BPCE Supervisory Board
Éric Fougère graduated from the Senior Banking Management program at the Centre d’études supérieures bancaires in Paris. He was appointed Chief Financial Officer and member of the Management Board of Groupe Louis Latour in Beaune in 2006 before beginning his career in Le Crédit Lyonnais Group as Head of Corporate Banking for the Bourgogne Franche-Comté region. Since 2013, he has been actively involved in the governance of the Caisse d’Epargne Bourgogne Franche-Comté in his capacity as a Director of the Sud Côte d’Or Local Savings Company before being appointed Chairman of this entity in January 2015. He became a member of the Steering and Supervisory Board of the Caisse d’Epargne Bourgogne Franche-Comté in April of that year and subsequently became Chairman of the Risk Committee.
In December 2019, he was appointed to the Groupe BPCE Supervisory Board.
Nautilus Insurance Names Joyce as President; Kuzma to Become Chairman
Scottsdale, Arizona-based specialty insurer Nautilus Insurance Group announced the appointment of Thomas Joyce as president. He is succeeding Tom Kuzma, who has been named chairman.
These changes will take effect January 1, 2021.
Joyce joined Nautilus as senior vice president of claims in 2015, was named chief underwriting officer in 2018, and executive vice president in 2020. He has been in the insurance industry for over 35 years, serving in various technical and leadership roles, with a particular focus in the excess and surplus lines market.
Thomas Joyce
Kuzma joined Nautilus as an underwriter in 1986, during its inaugural year. As the company grew, he took on more responsibilities in underwriting management, becoming chief underwriting officer in 1994 and president in 1997. In his new role as chairman, he will continue to further strengthen relationships with distribution partners, develop business opportunities and mentor Nautilus team members.
Tom Kuzma
Nautilus Insurance Group writes on behalf of Nautilus Insurance Co. and Great Divide Insurance Co. and is a member of W. R. Berkley Corp.
Ageas appoints new CEO and Chairman
Today, Ageas announces that, subject to the necessary approvals, Hans De Cuyper will succeed Bart De Smet as CEO of Ageas with effect from 22 October 2020. At the same time, Bart De Smet will become the Chairman of the Group replacing Jozef De Mey who recently announced his decision to step down.
With Hans De Cuyper, the current CEO of Ageas’s Belgian subsidiary AG Insurance, Ageas appoints an experienced leader and people manager with extensive knowledge of the Group and the insurance sector. Through various senior management positions held in both Asia and Belgium Hans is extremely well equipped to bring the best of both cultures together and to successfully lead Ageas in the next phase of its development.
Hans joined the company in 2004 as Director Insurance Management Asia in Hong Kong. In 2007, he moved to Malaysia as Chief Financial Officer in Etiqa Insurance & Takaful, the joint venture between Maybank and Ageas. From 2011 until 2013, he was Chief Executive Officer for Etiqa and member of the Executive Committee of Maybank, the leading Malaysian bank. In September 2013, Hans returned to Belgium to take up the role of Chief Financial Officer of AG Insurance, Ageas’s Belgian subsidiary. Since 1 October, 2015, Hans held the position of Chief Executive Officer of AG Insurance and consequently CEO of the ‘Belgium’ segment within the Group.
Bart De Smet joined the company in 1998 as a member of the management committee of Fortis AG (now AG Insurance) with responsibility for Fortis Employee Benefits. In 2005, he took charge of the Non-Life business and Broker Channel at Fortis Insurance Belgium, assuming the position of CEO of Fortis Insurance Belgium in 2007. In June 2009 he became CEO of Fortis, which was renamed Ageas in 2010. Under his leadership, the legacies from the financial crisis were resolved and Ageas transformed into a strong and independent international insurance Group.
As newly appointed CEO, Hans will be proposed as member of the Ageas Board at the Shareholders’ Meeting of 22 October 2020. Following his appointment as CEO of Ageas, the selection process to appoint a new CEO for AG Insurance has been launched.
In the coming months, Bart and Hans will continue to work closely with their respective executive teams to support a smooth transition of responsibilities.
Both appointments are subject to the approval of the National Bank of Belgium.
Commenting on the appointments Jozef De Mey says: “I would like to congratulate Hans on his appointment as the new CEO of Ageas. The Board is confident that Hans’s extensive experience both in Europe and Asia will ensure that the company is well prepared for the future and ready to embark on the next exciting stage in its evolution.
I take this opportunity to also congratulate Bart on being appointed as Chairman of the Board of Ageas. On behalf of the Board, I would like to thank Bart for his exemplary performance as CEO for more than a decade. His leadership has been truly inspirational, and we know he will continue to add enormous value to the Group as Chairman.
It is testament to the breadth of management talent within the Group that both appointments have been filled internally following a full and independent review that assessed a range of internal and external candidates as part of our succession planning process.”
Hans De Cuyper: “I am honored to have been given this opportunity to lead the company through the next chapter in its history and I am grateful for the trust the Board has shown in me. Under Bart’s leadership, Ageas has transformed itself over the past decade into a successful independent international insurance group. I am looking forward to working together with the team that has written this amazing story over the last 10 years. I also want to thank the Executive Committee and all my colleagues at AG Insurance for all the great work! You never failed to deliver on your promise to the Group. I am eager to catch up with our developments in Asia since I left the region in 2013, and to guiding our businesses across Europe and Asia into a bright future. I’m excited about the many opportunities that lie ahead of us and to continuing the great work”
Bart De Smet: “As I look back on my tenure as CEO I do so with much pride. I had an incredible team of people behind me, and together we delivered on our promises. In accepting the role of Chairman of the Board of Ageas Group, I am pleased that I will continue to be a part of the Ageas growth story and to witness even more success in the coming years. I congratulate my successor and wish him well for the future. These are exciting times in our industry, and also challenging times for society, but I feel confident that under Hans’s leadership we will continue to deliver what our stakeholders expect from us.”
Supervisory Board of ARAG SE elects Dr. Dr. h. c. Paul-Otto Faßbender as Chairman
The Supervisory Board of ARAG SE has elected Dr. Dr. h. c. Paul-Otto Faßbender (74) as Chairman with immediate effect. Thus the majority shareholder of the Düsseldorf-based family enterprise supersedes Gerd Peskes (75) who has chaired the supervisory board since 2004.
With the scheduled expiration of his mandate as Chairman of the Board of ARAG SE, Dr. Paul-Otto Faßbender was elected to the Supervisory Board of the enterprise by the General Meeting. Previously, he was Chairman of the Board of the operational holding company of the ARAG Group. In its meeting on 7 July 2020, the Supervisory Board of ARAG SE elected the entrepreneur as its new Chairman. Gerd Peskes was elected further Deputy Chairman in addition to Margit Schuler, representative of the employees’ side. Dr. Paul-Otto Faßbender thanked Gerd Peskes for his long-standing leadership work on the Supervisory Board: “Gerd Peskes played a significant role in shaping the successful alignment of ARAG SE and laid the important foundation that made the dynamic development of the company possible in the first place. For this I thank him very much.”
In addition to the chairmanship of the Supervisory Board, Dr. Paul-Otto Faßbender remains Chairman of the Board of ARAG Holding SE, the parent company of the Düsseldorf-based insurance group.
Aviva appoints George Culmer as Chairman
Aviva plc (“Aviva”) is pleased to announce the appointment of George Culmer as Non-Executive Chairman with effect from the 27th May 2020, following the Aviva AGM.
Aviva plc (“Aviva”) is pleased to announce the appointment of George Culmer as Non-Executive Chairman with effect from the 27th May 2020, following the Aviva AGM. George will succeed Sir Adrian Montague who will retire from the Board on 31st May 2020. This follows the announcement Aviva made on 21st January 2020 that Sir Adrian would retire as Chairman this year.
George Culmer brings extensive experience in insurance and broader financial services to the role. George is currently Aviva’s Senior Independent Non-Executive Director, a role he assumed in January 2020. George joined Aviva as a Non-Executive Director in September 2019. He is also a Non-Executive Director of Rolls Royce Holdings plc.
George was previously Chief Financial Officer of Lloyds Banking Group plc and Chief Financial Officer of RSA Insurance Group plc. George has also had senior roles at Zurich Financial Services and Prudential plc.
The appointment of George Culmer follows a thorough external and internal selection process led by the Nomination and Governance Committee of the Board. The appointment has been approved by the PRA and FCA.
The Board has initiated a process to appoint a Senior Independent Non-Executive Director to succeed George Culmer.
George Culmer said:
“I am honoured to be appointed Aviva’s Chairman. I would like to thank Adrian for his service to Aviva over the last seven years and his leadership during a period of considerable change.”
“Aviva’s purpose for more than 320 years has been to support its customers and communities when it really matters and throughout their lives. This has never been more important than it is today during these current challenging times. I will work closely with Maurice and the management team to ensure Aviva continues to be there to support and deliver for all our customers, our colleagues and our shareholders.”Sir Adrian Montague said: “After five years as Chairman, and with a refreshed board in place, it is the right time for me to step down. George has deep experience of insurance and financial services and is an outstanding choice to succeed me. Aviva has a strong franchise, a purpose that has never been more relevant and great opportunities for the future. It has been a privilege to serve as Chairman.”
Kokkalas to succeed Kassow as Chairman of the Board of Management of ERGO Germany
Theodoros Kokkalas (55) will succeed Dr. Achim Kassow (53) as Chairman of the Board of Management of ERGO Deutschland AG (ERGO Germany) on 1 May 2020. Kokkalas has been CEO of ERGO Insurance Company S.A. in Greece since 2004, and has also been a member of the Board of Directors of HDFC ERGO in India since 2018.
The Supervisory Board of Munich Re has appointed Dr. Achim Kassow to the Board of Management of Munich Re with effect from 1 May 2020. He will assume responsibility for the Asia Pacific and Africa division, as well as for the central divisions Central Procurement and Services. He has been with Munich Re Group since 2016.
Before joining ERGO, Kokkalas held various positions in insurance and banking. Kokkalas was born in Greece and studied at the universities of Piraeus and Athens, at INSEAD in France, and Leibniz University in Hanover, Germany. In addition to his native language of Greek, he speaks German and English fluently.