Markus Rieß confirmed to become CEO of ERGO and member of the Munich Re Board of Management

Markus Rieß confirmed to become CEO of ERGO and member of the Munich Re Board of Management

Markus Rieß confirmed to become CEO of ERGO and member of the Munich Re Board of Management

The FINANCIAL -- The Supervisory Board of ERGO Versicherungsgruppe AG has on June 9 appointed Markus Rieß to the ERGO Board of Management and also as its Chairman. Moreover, the Supervisory Board of Munich Re has appointed Rieß as a member of the Munich Re Board of Management. Both appointments will take effect on 16 September 2015.

As planned, the Supervisory Boards of Munich Re and ERGO Versicherungsgruppe AG have appointed Markus Rieß (49) to two new offices today. With effect from 16 September 2015, Rieß will take over as Chairman of the Board of Management of ERGO Insurance Group. He succeeds Torsten Oletzky (48), who announced in April that he would leave the Group for personal reasons at the end of 2015. Oletzky will leave the ERGO Board of Management on 15 September, but continue to be available to ERGO in an advisory capacity until the end of the year, according to Munich Re.

With effect from 16 September 2015, the Supervisory Board of Munich Re has also appointed Rieß to the Munich Re Board of Management, where he will be responsible not only for the primary insurance/ERGO field of business, but also for asset manager MEAG's third-party business.

The changes had already been announced by both Groups in April, subject to the approval of the respective Supervisory Boards.