GDV Strengthens Leadership with Allianz Actuary, Forms New Executive Trio for German Insurance Industry

The German Insurance Association (Gesamtverband der Deutschen Versicherungswirtschaft, GDV), the leading voice for Germany's insurance industry, has solidified its long-term leadership structure. Effective March 1, 2024, Moritz Schumann, a seasoned actuary from Allianz Lebensversicherung, joins the executive board. He will head the association's Competence Center for Old-Age Provision and Future Security, placing him in charge of the crucial life insurance sector. Concurrently, the GDV presidency unanimously reappointed Jörg Asmussen as Chief Executive Officer (Hauptgeschäftsführer).

A New Executive Trio for Strategic Challenges

This move establishes a powerful three-person executive team to guide the GDV through a period of significant transformation:

• Jörg Asmussen – Chief Executive Officer, focusing on overarching strategy, digitalization, and EU competitiveness.
• Anja Käfer-Rohrbach – Deputy CEO, responsible for the property & casualty and accident insurance sectors.
• Moritz Schumann – Deputy CEO, leading the life insurance and private pensions division.

GDV President Dr. Norbert Rollinger emphasized the strategic nature of the appointment, stating, "Moritz Schumann is a central figure in our modernization strategy. The GDV's leadership team is now complete."

Moritz Schumann: A Practical Expert for Life Insurance and Pensions

Schumann brings deep, practical expertise to his new role. An economist and trained actuary, he most recently led the Fundamentals and Pricing Methods department at Allianz Lebensversicherung. His background in economic mathematics and actuarial science is critical for navigating the complex financial and regulatory landscape of life insurance and long-term savings products.

In his statement, Schumann highlighted his key priorities: "Life insurers are a cornerstone of private and occupational old-age provision in Germany. I look forward to developing this further in dialogue with policymakers and all member companies." He specifically championed the unique selling propositions of life insurance: lifelong annuity guarantees and an optimal security-return profile for customers through modern guarantee concepts.

The Broader Context: Retirement Security in Germany and the U.S.

Schumann's focus on private pensions underscores a critical challenge facing developed economies: ensuring financial security in retirement. In Germany, this involves a three-pillar system with statutory pensions, occupational schemes, and private Riester-Rente and Rürup-Rente products, where life insurers play a major role. This is analogous to the U.S. system, which relies on Social Security (a public program), employer-sponsored plans like 401(k)s, and individual retirement accounts (IRAs). In both markets, life insurance companies are key providers of annuities and other products designed to mitigate longevity risk—the danger of outliving one's savings.

Strategic Priorities for the GDV's New Leadership

CEO Jörg Asmussen outlined the broad challenges ahead, emphasizing that "the topics are not running out." Key strategic priorities for the new leadership include:

1. Digitalization and Artificial Intelligence (AI): Leveraging new technologies across the insurance value chain while advocating for innovation-friendly regulation.
2. Enhancing Competitiveness: Strengthening the competitive position of the German and European insurance industry on the global stage.
3. Modernizing Old-Age Provision: Advocating for the role of life insurers in providing sustainable, long-term retirement solutions, a topic of immense importance as populations age.

This leadership reinforcement signals the GDV's commitment to addressing both immediate regulatory issues and long-term structural trends. For the 462 member companies and their customers, a strong, expert-led association is vital for shaping a regulatory environment that fosters innovation, stability, and consumer protection in essential areas like life insurance, health insurance, and retirement planning.