Talanx : completes generational renewal at Board level

• Dr Christian Hinsch is retiring
• Dr Edgar Puls appointed to the Board of Management of Talanx AG as his successor - at the same time he becomes CEO of HDI Global SE
• David Hullin becomes a member of the Board of Management of HDI Global SE

Hannover, 15 March 2019

The Supervisory Board of Talanx AG has completed the generational shift at Board level. Dr Christian Hinsch (63), the member of the Board of Management responsible for the Industrial Lines Division, is stepping down from the Talanx Board following the end of the Annual General Meeting of Talanx AG on 9 May 2019. Upon conclusion of the Annual General Meeting of HDI V.a.G. - the principal shareholder of Talanx AG - on 19 June 2019 Dr Christian Hinsch is retiring. The Supervisory Boards have appointed Dr Edgar Puls (45) to succeed him on both Boards of Management and as the Chief Executive Officer of HDI Global SE. David Hullin (50) will assume responsibility for the areas previously overseen by Dr Edgar Puls on the Board of Management of HDI Global SE.

This concludes the generational renewal on the Board of Management of Talanx AG: Torsten Leue (52) succeeded Herbert K. Haas (64) last year as Chief Executive Officer. Furthermore, as already announced, Ulrich Wallin - who bears responsibility for reinsurance business - is stepping down at the end of the Annual General Meeting of Hannover Rück SE on 8 May 2019 at the age of 64. He is to be succeeded by Jean-Jacques Henchoz (53).

'The Supervisory Board is deeply indebted to Dr Hinsch for his outstanding work in the Talanx Group and in the area of Industrial Lines. The growth, increasing internationalisation and very good reputation of the HDI Group - including in the industrial sector - are closely linked to Dr Hinsch's name', Herbert K. Haas, Chairman of the Supervisory Board of Talanx AG, stated. 'In Dr Puls a candidate who will further strengthen and expand the Industrial Lines Division emerged from within our own ranks after an intensive selection process. The Supervisory Board wishes Dr Puls every success in his new assignment.'

Torsten Leue, Chief Executive Officer of Talanx AG and Chairman of the Supervisory Board of HDI Global SE, added: 'I would like to thank Dr Hinsch for our very good, trusting and constructive cooperation. We have benefited enormously from his exceptional expertise in industrial insurance and from his loyalty. He has made a decisive contribution to the success of Talanx. At the same time, I am looking forward to the ongoing cooperation with Dr Puls and Mr Hullin. In his role as CEO, Dr Puls will continue the systematic drive to boost the profitability and international profile of HDI Global SE and enhance its corporate culture. Mr Hullin, in his new position, will similarly press ahead with the rehabilitation of the fire insurance portfolio, which is already well on track. I wish them both every success in their new tasks.'

Milestones

Dr Hinsch spent a successful career spanning 35 years with the HDI Group, including 23 years serving at Board level and 19 years as Chief Executive Officer of HDI Global SE (and its predecessor companies) as well as nine years as Deputy Chairman of the Boards of Management of Talanx AG and HDI V.a.G. Within the Talanx Group, HDI Global SE manages the Industrial Lines Division and thus performs the core mission of Haftpflichtverband der Deutschen Industrie V.a.G. (HDI), which was founded as long ago as 1903.

Dr Hinsch's achievements include, most notably, the internationalisation of this division, which now generates roughly two-thirds of its premium volume in foreign markets. Under his leadership the number of staff working for the division abroad quadrupled from 380 to 1568. The number of countries in which the HDI Group is active with its own branches and subsidiaries almost quintupled from eight to 39, while the premium volume generated internationally grew twelvefold from EUR 250 million to roughly EUR 3 billion. Not only that, Dr Hinsch played a pivotal role in the successful integration of the Gerling companies into the Industrial Lines Division in 2006.

Direct career path inside the HDI Group

Dr Edgar Puls has been with the Group for more than 17 years. He began his career with HDI in 2001 at the Essen branch and became a Departmental Manager at HDI Sicherheitstechnik GmbH in Hannover in 2005. In 2010 he rose to the position of Sales Director for the Division Industry at the head office of HDI Global SE. With effect from 2013, in the role of Spokesman of the Board of Managing Directors at HDI Global's Dutch subsidiary, he took charge of one of the largest foreign entities in the Industrial Lines division. In 2014 he was appointed to the Board of Management of HDI Global SE. He was initially responsible for the area of motor insurance and also oversaw the management of the European entities. Since 2018 he has been responsible for the areas of Property, Engineering, Marine, Multi-Risk and he remains in charge of the Division Europe. The strategically important 20/20/20 programme thus falls within his scope of competence.

With effect from 9 May 2019 David Hullin (50) will serve as a member of the Board of Management of HDI Global SE with responsibility for the areas of Property, Engineering, Marine, Multi-Risk and the Division Europe. He has over 24 years of experience in reinsurance and in international insurance business with the Talanx Group. David Hullin embarked on his career as an underwriter at Hannover Rück SE responsible for, among other things, fire business. At Talanx Reinsurance Broker GmbH he was responsible for reinsurance purchasing in the property/casualty lines in Germany as well as for placing the risks of the Group's international primary insurers. As a manager in the Retail International division he subsequently took charge of the region Central and Eastern Europe and assumed joint responsibility - also as a member of supervisory boards of subsidiaries belonging to the Talanx Group - for a premium volume of roughly EUR 3.0 billion. At the same time he led numerous M&A activities, including divestments in Ukraine and Bulgaria. Most recently, he has supervised strategic projects such as the launch of HDI Global Specialty within the area of Board responsibility overseen by the Chief Executive Officer of Talanx AG, Torsten Leue.

Effective 9 May 2019 the Board of Management of Talanx AG will be comprised of the following members: Torsten Leue (Chief Executive Officer), Sven Fokkema (Retail International) Jean-Jacques Henchoz (Reinsurance), Dr Edgar Puls (Industrial Lines), Dr Immo Querner (Chief Financial Officer), Dr Jan Wicke (Retail Germany).

The Board of Management of HDI Global SE will henceforth have the following members: Dr Edgar Puls (Chief Executive Officer), Frank Harting (Corporate Division, Industry Division, Marketing), David Hullin (Property, Engineering, Marine, Multi-Risk, Division Europe), Clemens Jungsthöfel (Finance and Controlling), Dr Thomas Kuhnt (Projects, Organisation, IT and Group Accident), Dr Stefan Sigulla (Motor, Liability, Financial Lines) and Jens Wohlthat (Global Division, Specialty Business).

Further Information:

Current photographs are available at the mediathek.

Interview Generational renewal at HDI Global SE

Profile of Dr Edgar Puls

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 materialize, 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.