HDI Global has appointed Stefan Pasternak as chief financial officer (CFO), effective from 1 April 2025.
Christian Hermelingmeier, currently the CFO of HDI Global SE, is set to take on the role of CFO at Hannover Re from 1 April 2025.
Pasternak is currently serving as CFO at Munich Re’s subsidiary Great Lakes Insurance SE.
His previous positions include CFO roles at ERGO Grubu in Turkey, ERGO DAUM in South Korea, and assignments in London and Milan with an international career of 25 years at Munich Re Group, including 17 years in leadership roles.
Under the financial leadership of Hermelingmeier, the company’s foreign business share witnessed a growth to 75% from 50% of the total business volume, which currently stands at approximately €11bn ($11.71bn) in premiums.
The net income of the company has seen an increase of around 300% to €300m.
The changes to HDI Global’s executive board are contingent upon approval by the Federal Financial Supervisory Authority.
As of 1 April 2025, the executive board of HDI Global will include Edgar Puls as CEO, Ralph Beutter as board member until 31 May 2025, and other key personnel managing various insurance lines and regions.
Puls said: “I am happy for Christian and sincerely thank him for the excellent cooperation. With commitment, team spirit and dedication, he has significantly supported the very successful development of HDI Global SE.
“Dr Stefan Pasternak will drive the continued success of HDI Global with his competence and international experience. In addition to his professional expertise, he is an excellent fit for our Executive Board team – he lives our values Together, Ownership and Performance.”
Hermelingmeier said: “I would like to thank my colleagues and the Supervisory Board for the great cooperation and trust in the past years. Working at HDI Global has been very fulfilling. At the same time, I am looking forward to the next major challenge.”
