Diana Baer has been promoted to CFO at Munich Re Holdings of Australasia.

She will replace David Field – who has become Great Lakes Insurance CFO – from July.

Ms Baer has been working at Munich Re for 17 years, most recently as business intelligence and reporting reinsurance controlling head for four years.

“We will use Munich Re’s strong balance sheet to remain a reliable long-term partner for our clients in Australia and New Zealand, even in times of increasing climate risks,” she said. “I love the interaction with all our international finance teams all over the world.

“The CFO position is more than just getting the numbers right, it has become an important business-enabling function.”