Saudi Reinsurance Company (“Saudi Re”) has announced the appointment of two seasoned reinsurance professionals - Dr. Peter Hugger and Mr. Marc Maupoux - to its Board of Directors for a three-year term starting 2020.
Dr. Peter Hugger has diversified experience in the reinsurance market, mainly in Europe, the Middle East, Asia and Latin America. He was the former CEO of Echo Re, Zurich, from 2012-2018 and assumed executive and technical roles in companies such as ACR, Singapore, MSG Systems Group, and Gerling Global Re, Zurich. Dr. Hugger holds a PhD in Economics from the University of Konstanz in Germany.
Mr. Marc Maupoux is well-known for his rich reinsurance experience, having led the establishment of a startup in Zurich, as CEO. He also assumed the role of Senior Vice President, Head of Property Non-Cat Property & Engineering Worldwide for Axis Re Europe, Zurich, from 2003 to 2016. Marc Started his reinsurance experience with Hannover Re in Hannover. Mr. Maupoux is a fellow of the International Actuarial Association and the Institute of Actuaries of France.
Commenting on the two appointments, Fahad Al-Hesni, Managing Director and CEO, Saudi Re, said: “We are very pleased to welcome Dr. Peter Hugger and Mr. Marc Maupoux to the Board. They both have long and successful track records, and have extensive experience in the international reinsurance markets. Saudi Re enjoys a well-diversified Board of Directors, and we are confident that the new members’ strategic and technical perspectives will be of great value to the Board in leading Saudi Re towards new successes and creating value for our shareholders.”
Saudi Re is the only specialized reinsurer in Saudi Arabia and writes treaty and facultative reinsurance business in the Middle East, Asia, Africa and Lloyd’s Market. Saudi Re is rated “A3” with a stable outlook by Moody’s.
© Press Release 2020
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