Reinsurer Deutsche Rück is adding Caren Büning to its board of directors in January 2024, with Büning set to head up the newly formed division for non-life business in Germany.
She joins from reinsurance firm SCOR, where she currently serves as Chief Underwriting Officer P&C and a member of the management board.
Deutsche Rück is dividing up market segments previously managed by Achim Bosch to reflect the firm’s continued expansion in the German market and its successful internationalisation strategy.
Büning will oversee the non-life division in Germany, while Bosch will lead the international non-life division, as well as coordinate activities between the two divisions.
Büning studied mathematics for business in Dortmund before working in the Reserve Actuary department at Gerling Globale. In 2002, she moved to the Cologne office of Swiss reinsurer Converium, which was later acquired by SCOR.
While at SCOR Rückversicherung Deutschland, Büning managed the German property and casualty business, first from 2014 as Market Manager and from 2018 as CUO, before becoming a member of the management board in 2019.
Prof. Dr Frank Walthes, supervisory board chairman at Deutsche Rück, praised Büning’s expertise in German non-life reinsurance and predicted that she would help to further reinforce the firm’s central role in the country and to develop new areas of potential.
The boards of directors at Deutsche Rück and VöV Rück, both owned by German public insurers, are made up of the same individuals. From January 2024, the boards will consist of Frank Schaar, Achim Bosch, Caren Büning and Michael Rohde. – InsuranceNewsAsia.com