- Wolf-Dieter Baumgartl, current CEO of Talanx Group, nominated to be elected member of the Supervisory Board
- Dr. Immo Querner successor to Haas as Chief Financial Officer at Talanx
At its meeting on Friday, 16 June 2006, the Supervisory Board of Talanx AG decided on changes with regard to the company's Executive Board. By mutual agreement and with effect from 12 July 2006, Mr. Baumgartl's mandate as Member and CEO of Talanx AG will end with the termination of the ordinary Annual General Meeting (AGM) of Talanx AG. It will be proposed to the AGM to elect Mr. Baumgartl to serve as Supervisory Board Member of Talanx AG. At the same time and with effect from the termination of the ordinary AGM of Talanx AG, the Supervisory Board mandated Herbert K. Haas, currently Chief Financial Officer (CFO) of the Talanx Group, to serve as CEO. This makes Haas the eighth CEO of the company which can look back on over 100 years of history. Following Mr. Haas' change into his new position as CEO, Dr. Immo Querner will assume responsibility from Mr. Haas for Executive Board Member duties at Talanx AG.
The Supervisory Board of HDI V.a.G., the parent company of the Talanx Group, likewise decided on changes to the Executive Board. Here, too, Mr. Baumgartl's mandate as Member and CEO will end with the termination of the ordinary AGM of HDI V.a.G. on 12 July 2006. Equally, it will be proposed to the AGM to elect Mr. Baumgartl to serve as Supervisory Board Member of HDI V.a.G. In the same meeting and with the termination of the ordinary AGM of the company, the Supervisory Board of HDI V.a.G. appointed Haas to serve as CEO.
A graduate of business administration, Mr. Haas (51) began his career at the German regulatory authority for the insurance industry, the former "Bundesaufsichtsamt für das Versicherungswesen". In 1982, he then joined one of the companies of today's Talanx Group, namely E+S Rückversicherungs-AG. After holding a position as head of department at Hannover Re, he spent several years in Los Angeles as Vice President Finance and CFO of Insurance Corporation of Hannover. In 1989, he returned to Hannover Re to take up the position of Manager Subsidiaries, Controlling, Taxes and Accounting and was appointed Member of the Executive Board of Hannover Re as well as E+S Rückversicherungs-AG in 1994.
Since 2002, Mr. Haas has served as Member of the Executive Board of HDI V.a.G. and Talanx AG. In 2005, he resigned from the positions of Member of the Executive Board of HDI Privat Versicherung as well as of HDI Industrie Versicherung AG and HDI Service AG. He had taken up these posts in 2002 and 2003, respectively and receded from them in order to be able to focus on his work at the Board of Talanx AG. In the course of the Gerling acquisition in 2006, Mr. Haas was appointed Managing director of Gerling Beteiligungs-GmbH.
Now resigning from office, Wolf-Dieter Baumgartl (62) has served as CEO of the Talanx Group since 1993. After passing the Second State Law Exam, he began his career at Aachener und Münchener Versicherung AG, Aachen, in 1973, a post which he resigned from in 1992 to assume responsibility as Chairman of the Board of the company's holding AMB.
In 1993, Mr. Baumgartl joined Talanx Group's predecessor, namely HDI Haftpflichtverband der Deutschen Industrie V.a.G., Hannover, to take on position as CEO. When Talanx AG became operational in 2000, he assumed additional responsibility as that company's CEO.
Over the past 13 years under management of Mr. Baumgartl, the Group developed from an insurer with a main focus on corporate business and producing volatile results to a modern multi-brand insurance company with a balanced portfolio and balanced results. During this time, premium income generated increased from EUR 3.7 billion to around EUR 20 billion. The Group improved its ranking from eighth to third position among German insurers.
About Talanx:
With premium revenues expected to be around EUR 20 billion in 2006, the Talanx Group is the third largest German insurance group. Talanx operates its business under a variety of brands, including HDI, Gerling, Hannover Re as one of the leading reinsurers worldwide, Aspecta, CiV Versicherungen, PB Versicherungen, Neue Leben and Ampega as a provider of financial services. The Group is active in Primary Property & Casualty Insurance, Primary Life insurance, Property & Casualty Reinsurance, Life & Health Reinsurance and Financial Services. The Group headquartered in Hannover operates its business in 150 countries. Among major European insurers Talanx experirienced the quickest growth in recent years. Talanx' financial strength has been rated AA-/watch neg. (excellent) by Standard & Poor's.
For further information please contact: Thomas v. Mallinckrodt, phone +49 (0) 511-3747 2020