New Reinsurance Company Ltd. (NewRe), a wholly owned subsidiary of global reinsurance firm Munich Re, has named an internal candidate as its new Chief Executive Officer, with Thomas Braune taking the role.
Braune has worked at Munich Re since 1992 and is a seasoned reinsurance market expert.
His most recent position at Munich Re was leading the firm’s life and health reinsurance business across Europe, Latin America and the Middle East.
Braune will assume the CEO of NewRe position on October 1st 2020, succeeding Dr Renate Strasser who is departing the group for a new opportunity at Allianz’s AGCS as Chief Underwriting Officer, Specialty.
Claudia Hasse, speaking on behalf of the NewRe Board, commented, “We are fortunate to have someone of Thomas Braune’s calibre and experience step up to lead NewRe. With him we have appointed a strong strategic thinker and communicator who is customer-focused and will vastly drive and strengthen NewRe’s financial performance.”
Thomas Braune added, “I am honoured and excited to be taking on leadership responsibility for NewRe. It is a privilege to be part of an organisation that delivers high quality services and innovative solutions to its clients and partners through a dedicated team of experienced professionals.”
Braune will lead the reinsurance company through the key January 2021 renewal season and NewRe will continue its focus on standard P&C reinsurance in combination with developing customised reinsurance solutions for clients.
NewRe said it will continue to write significant lines of treaty excess of loss reinsurance, exhibiting a preference for Natural Perils and Motor exposures of European cedents.