Munich Re Announces Leadership Changes in Specialty Insurance Units

Munich Re's Global Specialty Insurance division is undergoing key leadership transitions with the announced retirements of Greg Barats, CEO and President of HSB, and Andreas Kleiner, CEO and President of American Modern Insurance Group, effective in the first quarter of 2026. Both executives will remain in their roles until March 2, 2026, ensuring a smooth handover to their successors. Jeffrey C. O'Shaughnessy will take over as CEO and President of HSB, while Kathleen O. Zortman will lead American Modern, reflecting Munich Re's commitment to sustainable growth and leadership development within its specialty insurance operations. Greg Barats, who has been CEO of HSB since 2011, has played a pivotal role in advancing HSB as a prominent provider of specialty insurance and technology-driven risk management services across multiple international markets including the US, Canada, UK, and Ireland. His responsibilities have extended to overseeing Munich Re’s Global Internet of Things (IoT) business and directing AI and Generative AI insurance initiatives, demonstrating the firm's focus on innovation in specialty insurance products and services. Andreas Kleiner, serving as CEO of American Modern since 2016, has successfully transformed the company by enhancing operational efficiency, employee engagement, and customer experience. His extensive tenure at Munich Re spans three decades with leadership roles across various global regions. Under his leadership, American Modern has been recognized as a top workplace, emphasizing the importance of corporate culture alongside business performance. Jeffrey C. O'Shaughnessy brings over 20 years of experience within HSB, currently managing the assumed reinsurance business and portfolio risk solutions. His background as a chief underwriting officer and product developer positions him well to continue innovation and growth at HSB. Kathleen O. Zortman has over 30 years in property and casualty insurance with expertise in organisational transformation and portfolio optimisation, aiming to drive operational and underwriting excellence at American Modern. These leadership changes highlight Munich Re's ongoing strategic focus on expanding its specialty insurance footprint worldwide, while investing in innovation such as AI-driven products and maintaining stability within its business units. The transitions reflect broader industry trends towards technological integration in underwriting and risk management as well as a sustained emphasis on leadership continuity and workforce engagement.