MS Reinsurance appoints new board directors

MS Reinsurance appoints new board directors | Insurance Business Asia

Reinsurance

MS Reinsurance appoints new board directors

One named to chair the audit committee

Reinsurance

By
Kenneth Araullo

MS Reinsurance has announced the appointments of Yasuko Fukuda and Frank Ellenbürger as third shareholder representative director and fourth independent director, respectively, to its supervisory board of directors, effective from April 24, 2024.

As part of the appointments, Ellenbürger will also become chair of the global reinsurer’s audit committee. Both Fukuda’s and Ellenbürger’s election to the board is pending approval by the Swiss Financial Market Supervisory Authority (FINMA).

Fukuda brings over three decades of industry experience and is a longstanding member of the MS&AD Insurance Group. In her recent role as MSI’s managing executive officer, she oversaw accounting and international supervisory. She has also held leadership positions in finance and corporate planning.

Ellenbürger is an international leader, board member, and advisor with significant experience serving major global insurance groups. At KPMG, he was global and European head of insurance, where he developed and executed the global growth strategy.

Ellenbürger has expertise in technical accounting, corporate governance, and change management. He was a member of EIOPA’s stakeholder group and chaired the insurance working group of Accountancy Europe.

MS Reinsurance chairman Martin Albers welcomed both additions to the board as it steps up to meet the reinsurer’s continued growth.

“The board is pleased to welcome Yasuko and Frank to MS Reinsurance’s growing business. As our company matures and faces new challenges, Yasuko’s extensive experience and Frank’s consulting expertise and knowledge of the global insurance sector will be valuable assets that will contribute meaningfully to supporting MS Reinsurance’s ongoing strategic development,” he said.

Albers also thanked Robin Adam for his contributions since joining the supervisory board.

In other recent developments, MS Reinsurance received upgraded 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.

What are your thoughts on this story? Please feel free to share your comments below.