Talanx, the parent company of Hannover Re and HDI, has made changes in the management board of its German unit following the departure of Ulrich Rosenbaum.

Rosenbaum is retiring after over 33 years at the Talanx Group. He will remain a member of the company's supervisory boards of the bancassurance companies.

Since 2013, along with his work on the management board of Talanx Deutschland, Rosenbaum has also served as CEO of HDI Lebensversicherung.

Rosenbaum will be succeeded by Patrick Dahmen, who is joining the management board of Talanx Deutschland effective 1 January 2019.

Dahmen specialises in the field of retirement provision and will take the responsibility for the board area of life and investments. He will be based in Cologne.

Dahmen has been a member of the management board of AXA Konzern since 2007; from 2012 onwards he assumed responsibility for the area of retirement provision, after previously serving as chief financial officer (CFO).

"Talanx would like to thank Ulrich Rosenbaum for his outstanding service to the organisation and is pleased that he remains available as a member of the Supervisory Boards of PB Versicherungen and TARGO Versicherungen", said Torsten Leue, chairman of the supervisory board of Talanx Deutschland and CEO of Talanx.

Leue added: "We consider the business of occupational retirement provision in Germany to be a major growth market in which further expansion of our footprint is essential. In seeking to achieve this goal, we have confidence in the expertise of Dr Dahmen."

CEO of Talanx Deutschland, Jan Wicke said: "We are delighted that Patrick Dahmen is joining us. He knows the life insurance business, the sales and competitive situation and the political and economic climate. Thanks to his wide-ranging specialist know-how, we are well-positioned for the future."