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Munich Reinsurance Co. on Tuesday said Joachim Wenning will succeed Nikolaus von Bomhard as CEO of the reinsurer on April 26, 2017.
Mr. Wenning has been responsible for international life reinsurance business on the Munich, Germany-based reinsurer's board of management since 2009.
Mr. Wenning, who is 51, is responsible for human resources at Munich Re and is the company's labor relations director.
Munich Re, which is the world's largest reinsurer, said in a statement that it has accepted Mr. von Bomhard's request to step down as CEO and to leave the company's board of management at its annual general meeting next year.
Mr. von Bomhard has been chairman of Munich Re's board of management since 2004.
He will turn 60 in July.