Jasminka Horvat Martinovic was appointed CEO of Wiener osiguranje Vienna Insurance Group d.d., effective May 1, replacing Walter Leonhartsberger-Schrott, the Croatian company's parent, Vienna Insurance Group AG, said Feb. 22.

The change at the helm of Wiener osiguranje will take place around the same time as the planned merger of the insurer with Erste Sparkassen osiguranje d.d. za životno osiguranje, also a unit of Vienna Insurance Group, at the end of April, subject to approval by local authorities.

The new CEO will continue to oversee nonlife insurance and reinsurance operations, as well as the IT division. Walter Leonhartsberger-Schrott will retire once the merger of Erste osiguranje and Wiener osiguranje has been completed.

Bozo Saravanja, responsible for sales, and CFO Tamara Rendic will retain their seats on the managing board of Wiener osiguranje. Subject to regulatory approvals, Erste osiguranje CEO Snjezana Bertoncelj will join Wiener osiguranje's managing board to oversee the company's life insurance business.