Baloise Insurance Germany, Deutscher Ring Lebensversicherungs, and Deutscher Ring Sachversicherungs (DR Leben/Sach) have appointed Alexander Tourneauwell as the new head of finance/investment division for Baloise and Deutscher Ring Leben/Sach.

Mr Tourneau has been responsible for the german Baloise companies in his role as regional manager since September 2008. In addition, he was elected chairman of the supervisory boards of Basler Securitas Versicherungs and DR Leben/Sach in late 2008.

Previously, Mr Tourneau served as the authorised officer for the Deutscher Ring insurance companies and as CFO of subsidiary Deutscher PensionsRing. He also worked for management consultancy with the Boston Consulting Group and also the UBS and M.M.Warburg & CO banks.

In addition, Mr Tourneau will resign from his current chairmanship of the boards of directors of the three companies including Basler Securitas Versicherungs, Deutscher Ring Lebensversicherungs and Deutscher Ring Sachversicherungs.

Frank Grund, CEO of Baloise Insurance, said: “The prompt and orderly transition of the finance/investment division into the hands of a proven insurance expert with long-term managerial experience in the group ensures the continuity of our activities in this important division in Germany.

“At this time especially, where we are intensively involved in demerging the Deutscher Ring companies, Dr Tourneau, with his extensive experience, is a particularly valuable asset to our executive committee. I am looking forward to work with him.”