Jean-Jacques Henchoz to Step Down from Talanx AG, Clemens Jungsthöfel to Succeed as Head of Reinsurance

Jean-Jacques Henchoz to Step Down from Talanx AG, Clemens Jungsthöfel to Succeed as Head of Reinsurance

(IN BRIEF) Jean-Jacques Henchoz, a member of Talanx AG’s Board of Management and head of the Reinsurance division, will step down on 31 March 2025 after choosing not to extend his contract. Clemens Jungsthöfel, the current Chief Financial Officer and future CEO of Hannover Re, will take over Henchoz’s responsibilities from 1 April 2025. Henchoz has been instrumental in leading Hannover Re to significant growth, nearly doubling its market capitalization during his tenure. Jungsthöfel, a seasoned insurance expert with a background in finance and strategic direction, is set to succeed Henchoz. Both Henchoz and his successor received praise from colleagues for their leadership.

(PRESS RELEASE) HANOVER, 13-Nov-2024 — /EuropaWire/ — Jean-Jacques Henchoz, a member of Talanx AG’s Board of Management and head of the Reinsurance division, has announced that he will not extend his expiring contract and will step down on 31 March 2025, at his own request. Clemens Jungsthöfel, the current Chief Financial Officer and future Chief Executive Officer of Hannover Re, will succeed Henchoz and assume responsibility for the Reinsurance division starting on 1 April 2025. Henchoz will continue to maintain a close association with both Hannover Re and the Talanx Group after his departure.

Henchoz, 60, has led Hannover Re since 2019, steering the company through a period of market turbulence. Under his leadership, Hannover Re’s market capitalization nearly doubled to approximately EUR 29 billion, driven by strong, profitable growth. The company’s return on equity averaged 14.7% over the past six years, underscoring Henchoz’s success in delivering solid financial performance.

Herbert K. Haas, Chairman of Talanx AG’s Supervisory Board, expressed regret at Henchoz’s decision to leave. “Jean-Jacques Henchoz has been instrumental in navigating Hannover Re through challenging times, enhancing both the market position and profitability of the company. On behalf of the Supervisory Board, I extend my sincere thanks to him for his dedication and wish him continued success in his future endeavors. I also wish Clemens Jungsthöfel all the best as he steps into his new role.”

Clemens Jungsthöfel, 54, brings significant experience to the role, having served as Chief Financial Officer at Hannover Re and corporate insurer HDI Global. Previously, he was a partner at KPMG, where he advised reinsurance and primary insurance companies. Jungsthöfel played a pivotal role in Hannover Re’s strategic direction and financial resilience, contributing to its robust earnings in a challenging market environment. He is an auditor, tax consultant, and qualified insurance agent.

Torsten Leue, Chairman of Talanx AG’s Board of Management, thanked Henchoz for his contributions: “It has been a pleasure working with Jean-Jacques. His entrepreneurial approach, foresight, and teamwork greatly enriched the Board of Management and the entire Group. We wish him all the best in his future endeavors. Clemens Jungsthöfel’s extensive experience, strategic insight, and strong customer focus make him an ideal successor.”

Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

Media Contacts:

Andreas Krosta
Head of Group Communications
Phone: +49 511 3747-2020
Andreas.Krosta@talanx.com

Bernd Sablowsky
Head of Investor Relations + Mergers & Acquisitions
Phone: +49 511 3747-2793
Bernd.Sablowsky@talanx.com

SOURCE: Talanx AG