MS Reinsurance appoints new board members | Insurance business America
One was appointed chairman of the audit committee
reinsurance
By Kenneth Araullo
MS Reinsurance has announced the appointment of Yasuko Fukuda and Frank Ellenbürger as the third shareholder representative director and fourth independent director, respectively, to its Board of Directors, effective April 24, 2024.
As part of the appointments, Ellenbürger will also become chair of the global reinsurer’s audit committee. The election of Fukuda and Ellenbürger to the board is still subject to the approval of the Swiss Financial Market Supervisory Authority (FINMA).
Fukuda brings over three decades of industry experience and is a long-standing member of the MS&AD Insurance Group. In her most recent role as Managing Executive Officer of MSI, she was responsible for accounting and international oversight. She has also held leadership positions in finance and corporate planning.
Ellenbürger is an international executive, board member and consultant with extensive experience supporting large global insurance groups. At KPMG he was Global and European Head of Insurance, where he developed and implemented the global growth strategy.
Ellenbürger has expertise in the areas of technical accounting, corporate governance and change management. He was a member of EIOPA’s Interest Group and Chair of Accountancy Europe’s Insurance Working Group.
Martin Albers, CEO of MS Reinsurance, welcomed both new additions to the board, which is increasingly preparing for the reinsurer’s further growth.
“The Board is pleased to welcome Yasuko and Frank to MS Reinsurance’s growing business. As our company matures and takes on new challenges, Yasuko’s extensive experience and Frank’s advisory expertise and knowledge of the global insurance sector will be valuable assets that will meaningfully contribute to supporting MS Reinsurance’s ongoing strategic development,” he said.
Albers also thanked Robin Adam for his contributions since joining the board.
In other recent developments, MS Reinsurance received improved financial strength ratings from AM Best, with the reinsurer receiving an A+ (Superior) from A (Excellent) and a Long-Term Issuer Credit Rating of “aa-” (Superior) from “A” (Excellent), with a stable outlook for these ratings.
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2024-05-17 13:10:00
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