Ed Broking German subsidiary Junge names new CEO

Germany-based insurance broker for the maritime industry Junge & Co, a fully owned subsidiary of Ed Broking Group, has appointed Olaf Fölsch as CEO.

Fölsch succeeds Ulfert Paulsen who has retired from the position after more than 28 years with the broker.

Fölsch, who previously served as managing director of Junge & Co, joined the company in 2015 from Aon where, as the head of specialty marine, he led its marine business in Germany. Prior to this, he served as general manager and head of marine and aviation at TUI Insurance Services.

"I would like to thank Ulfert for his service and significant contribution to Junge & Co and to wish him a happy retirement," Steve Hearn, CEO of Ed, commented. "I am delighted to announce Olaf’s appointment as CEO, he is the ideal candidate to realise our ambitions for the business."

Fölsch said: "I am very pleased to succeed Ulfert as CEO of Junge & Co. His contribution to our business and its growth has been tremendous and I am looking forward to carrying on his legacy.

"The marine market is changing rapidly and we must evolve our proposition to ensure we continue to reflect clients' requirements. We have an exceptional team at Junge & Co with vast experience across the marine market. Alongside our colleagues at Ed, we are ideally placed to challenge the status quo and increase our presence in our target markets."

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