Leadership Transition at Munich Re as CEO Joachim Wenning Retires

Munich Re, one of the world's largest reinsurers, is set to undergo a significant leadership change as CEO Joachim Wenning announces his retirement at the end of December 2025. Wenning, who has held the position since 2017, has overseen a remarkable transformation within the company, nearly tripling its profits during his tenure.

Wenning, who is 60 years old, has expressed that his decision comes after careful consideration. His successor will be Christoph Jurecka, the current Chief Financial Officer, marking a pivotal moment in the firm's 145-year history. Jurecka will become the tenth CEO of the company, which was founded in 1880.

Under Wenning's leadership, Munich Re has experienced a resurgence after several challenging years. When he took the helm, the company was grappling with declining results. Through a robust strategic plan, Wenning successfully redirected the firm towards profitability, culminating in a net profit increase from EUR2.1 billion in his first year to an estimated EUR5.7 billion in 2024, with a target of EUR6 billion set for this year.

The company's growth trajectory has been impressive, particularly in the reinsurance sector, which has faced various challenges in recent years. Wenning's approach to revitalizing the business involved not only strengthening operational efficiency but also expanding Munich Re's global footprint.

As Jurecka prepares to step into the role of CEO, he brings with him a wealth of experience, having been with the company for a significant period, including his current position as CFO. His appointment is seen as a continuation of the successful strategies implemented under Wenning's leadership.

Replacing Jurecka as CFO will be Andrew Buchanan, hailing from South Africa. His appointment is part of a broader restructuring within the company's leadership team, aimed at ensuring a seamless transition and sustained growth in the future.

Munich Re's consistent performance under the guidance of Wenning has positioned the firm as a formidable player in the global reinsurance market. As the company looks ahead, stakeholders remain optimistic about the future direction under Jurecka's leadership.