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HANOVER, Germany German commercial insurance buyers face more change in their formerly highly stable market as HDI Versicherungen, the Hanover-based insurance group, has announced further key management changes following its recent acquisition of the Cologne-based Gerling Konzern group.
Major German insurance buyers currently are having to cope with an unprecedented level of change following HDI's acquisition of the Gerling business and decision by other leading industrial players such as Allianz S.E. to restructure their businesses.
Many long-term relationships are being broken as senior experts in the industrial and commercial insurance market are choosing to, or being forced to, move on.
HDI announced today that Wolfgang Faden, member of the board of Gerling Vertrieb Industrie A.G. and Gerling Vertrieb Firmen und Privat A.G., two of the formerly privately-owned insurance group's companies, will leave the group on November 30.
A spokesman said that he was not able to comment on Mr. Faden's replacement, if there is to be one.
Also, Bernhard Hussmann, deputy head of the Gerling Hamburg branch office will leave his current post to become head of HDI's industrial business at the Berlin branch at the start of next year. He replaces Eberhard Höpping who retires at the age of 65.
Hans Jorg Mayer, previously general mananger of Gerling's general insurance business becomes head of industrial business at HDI's branch in Dusseldorf.
Uwe Schwachulla, currently department head of Gerling Consulting Gruppe GmbH, the risk management operation, will become head of the HDI risk management operation HDI Sicherheitstechnik GmbH, in Hanover.
Reinhold Huttl, who is currently in charge of environmental and catastrophic liability clais at HDI Industrie Versicherung AG, takes temporary charge of the claims management business at Gerling-Konzern Allgemeine Versicherungs-AG.