As part of the ongoing development of the business model, the board has initiated the process of finding a new CEO to replace Jacob Munch, who will assume a different role.
The management and board of The Danish Shipowners’ Accident Insurance Association have spent the second half of 2023 developing a strategic plan for UFDS for the coming years:
»The strategy is strong and appropriate. UFDS aims to strengthen its position as the preferred workers' compensation insurance provider for shipping companies, continuously improving our unique claims processing with a focus on providing the best possible support to the injured parties and members,« says CEO Jacob Much and continues:
»But after a period of focusing on implementing Solvency II regulations, stabilizing the investment portfolio, and onboarding new partners, there is also a need to further develop member services and our business model. This will require a different leadership profile than what I can provide, which is why I have asked the board to search for a new CEO for UFDS.«
Jacob Munch continues: »I am incredibly pleased that the board has listened to my request and initiated the process of finding a new CEO in a way that allows me to continue being a part of UFDS in a different role in the future.«
In this regard, the Chairman of the Board, Lars Henneberg, states: »The board would like to acknowledge Jacob Munch’s significant contribution to the strategic plan and has taken the CEO's desire to transition to a different role within the company into consideration.«
A replacement is expected to be in place in the first half of 2024
The board has therefore initiated the process of finding a new CEO and anticipates having a replacement in position during the first half of 2024.
»The board would like to take this opportunity to express gratitude to Jacob Munch for his competent and insightful leadership of UFDS over the past nine years. He has successfully and astutely guided the company through a challenging period marked by new and complex regulations for insurance companies, significant fluctuations in financial markets, and the establishment of new partnerships. The board is pleased and reassured that he will continue to offer his extensive knowledge, expertise, and work capacity to UFDS in a different role once a new CEO has been found," says Lars Henneberg.
