New CFO: Nürnberger Versicherung appoints Peter Ott as successor to Jürgen Voß

Peter Ott will be the new Chief Financial Officer of Nürnberger Versicherung. The 57-year-old was appointed to the Group Executive Board by the Supervisory Board, effective October 1.

Ott is set to succeed long-time CFO Jürgen Voß , who will be leaving Nürnberger Beteiligungs-AG in mid-November to take over as Chairman of the Supervisory Board of Fürst Fugger Privatbank. No details were disclosed regarding the change. Voß is leaving the company "by mutual agreement."

Long-time consultant in the insurance industry

Ott has been a partner at the auditing firms EY and KPMG for the past 20 years, returning to the latter in April of this year. He headed departments in insurance consulting, finance, risk, and actuarial services. He was also responsible for consulting engagements and audits at various insurance groups, according to Nürnberger.

Ott holds a degree in mathematics and actuarial science (DAV), is also a certified public accountant and tax advisor, and holds a doctorate in insurance business administration. His knowledge has likely given him deep insights into the insurance industry and its financial data, although he has not yet worked directly in the sector.

"With Dr. Ott, we are gaining a highly renowned expert in finance and risk management in the insurance industry. Our goal is to ensure risk-oriented management across all levels of the company in the future. We will therefore use his arrival as an opportunity to restructure the area of ​​responsibility," said Marion Ebentheuer, Chairwoman of the Supervisory Board, without providing details.

New CFO joins as merger process begins

The change in management comes at an extraordinarily difficult time for the long-established Franconian insurer. In 2024, Nürnberger's consolidated result showed a deficit of €77 million, with the claims division alone posting a loss of €157.4 million . After many years of pursuing a tough restructuring program, Nürnberger now appears to be open to a takeover.

A due diligence review has already been agreed with Vienna Insurance Group (VIG). At the same time, an activist investor has sparked a debate about the suitability of the Austrians as majority shareholders .

The outcome of the reviews and negotiations regarding the details of a transaction is currently as uncertain as its completion. A decision on VIG's potential stake in Nürnberger is expected in the fourth quarter. It is clear that Ott will play a key role in this process due to his position and profile.