Munich Re announced that it has appointed Michael Hauer to replace Ike Kim as CEO for Korea. The appointment is effective 1 June, 2019. Kim had been at the position for nine years. He is to become executive director at Munich Re Korea. Hauer, currently head of Marine Reinsurance for the Asia Pacific, has been with the insurance firm for the past 27 years. He is to be based in Seoul after taking up the new position.