On Tuesday, Munich Re announced the appointment of Bernhard Kaufmann as Group Chief Risk Officer.

The appointment is effective on Jan. 1, 2014.

Kaufmann will succeed Joachim Oechslin, who will be joining the Executive Board of the Credit Suisse Group.

Kaufmann has been with Munich Re since 2000. Since 2008, he has been Chief Risk Officer and Head of Integrated Risk Management with Munich Re’s ERGO Insurance Group.

In a statement announcing the appointment, Chief Executive Officer Nikolaus von Bomhard noted that Kaufmann not only knows all the facets of risk management but is also already familiar with the business segments of Munich Re.

Source: Munich Re