Junge & Co, part of the Ed Broking Group, announced the appointment of Olaf Fölsch as CEO. He succeeds Ulfert Paulsen who has retired from the position after more than 28 years with Junge & Co.
Fölsch, who previously served as Managing Director of Junge & Co, brings nearly two decades of insurance experience to his new role. He joined in 2015 from Aon where as Head of Specialty Marine he led its marine business in Germany. Prior to this, he served as General Manager and Head of Marine & Aviation at TUI Insurance Services. Fölsch also brings extensive first-hand experience of the marine industry to the role having studied maritime industrial engineering and management and served as a sea-going officer on a number of vessels.
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".
Steve Hearn, CEO of Ed said “I would like to thank Ulfert for his service and significant contribution to Junge & Co and to wish him a happy retirement. I am delighted to announce Olaf’s appointment as CEO, he is the ideal candidate to realize our ambitions for the business."
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