Hannover Life Reassurance Company of America has announced a significant leadership transition, as it looks to begin a new chapter for its US operations.
The company, known as Hannover Re US, confirmed that Tiffany Norman will assume the role of president and CEO from 1 January 2026. She will succeed Pete Schaefer, who is set to retire at the end of December 2025 after more than two decades at the helm.
The announcement follows a leadership update first communicated in September 2025, when Clint Thompson was named as the incoming president and CEO.
Hannover Re US has now clarified that Thompson has chosen, for personal reasons, to move into a global position within the wider Hannover Re organisation. In his new role as principal lead, life & health portfolio steering and business performance, he will report directly to Brona Magee, a member of Hannover Re’s life & health reinsurance executive board.
Norman brings nearly 20 years of experience in the life and health insurance and reinsurance sector. She joined Hannover Re US in 2006 and has built a career spanning product development, pricing, valuation, financial reporting, economic capital and actuarial modelling. Over the years, she has played a central role in strengthening actuarial capabilities in the US business, with a particular focus on talent development and organisational growth.
Most recently, Norman served as executive vice president and head of annuity solutions. In that position, she was credited with driving strong growth in the annuity segment, an area that has become an increasingly important part of Hannover Re US’s portfolio amid shifting demographic and retirement trends.
The leadership reshuffle is being presented as evidence of Hannover Re’s flexible and pragmatic management approach. By repositioning senior leaders while maintaining continuity, the group aims to ensure that client needs remain at the forefront while adapting to changing market conditions.
The changes also bring to a close the tenure of Pete Schaefer, a long-standing figure within Hannover Re US. Schaefer joined the organisation in 1999 as chief actuary before being appointed president and CEO in 2001. Over a 27-year career with the company, he oversaw a period of significant expansion and transformation, helping to build a leadership team positioned to continue the company’s growth trajectory.
As Hannover Re US enters 2026, the appointment of Norman signals a focus on internal succession, deep technical expertise and long-term stability, as the reinsurer looks to maintain its competitive position in the US life and health market.
