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Tuesday, April 16, 2024

Swiss Re CEO steps down, successor named

Swiss Re CEO steps down, successor named | Insurance coverage Enterprise America

Veteran exits the function after eight years

Swiss Re CEO steps down, successor named


Kenneth Araullo

Swiss Re has introduced a serious management change with Andreas Berger (pictured) set to imagine the function of group chief govt officer on July 1, 2024, succeeding firm vet Christian Mumenthaler, who has determined to step down following an eight-year tenure.

Berger, who joined Swiss Re in March 2019, brings intensive expertise from his earlier roles at Boston Consulting Group, Gerling, and Allianz.

“I’m honored by the board’s resolution to nominate me to steer this nice firm,” Berger mentioned.

Berger additionally emphasised his dedication to strengthening Swiss Re’s world shopper franchise and dealing intently with colleagues, the group govt committee, and the board of administrators to realize the corporate’s objectives.

With Berger’s appointment as group CEO, he may even relinquish his present function as CEO of Company Options. The seek for his successor is underway.

Jacques de Vaucleroy, Swiss Re’s vice chairman of the board of administrators, highlighted the board’s unanimous resolution for the “proper particular person” to construct on the corporate’s momentum.

de Vaucleroy additionally praised Berger’s profitable observe document at Swiss Re, notably noting his achievements in turning across the Company Options Enterprise Unit.

“He has demonstrated a robust deal with execution whereas on the identical time innovating the enterprise with knowledge analytics-based options,” de Vaucleroy mentioned.

Reflecting on Mumenthaler’s management, de Vaucleroy highlighted his work in steering the corporate by way of a interval with elevated pure disaster exercise, an unprecedented low rate of interest setting and the COVID-19 pandemic.

“With the tailwind of delivering on all 2023 monetary targets, a dividend enhance, and the optimistic results of group reorganization coming by way of, now could be the proper second for CEO succession,” de Vaucleroy mentioned.

“Christian is an extremely devoted, passionate, and intellectually robust chief who has made an affect, additionally past Swiss Re. On behalf of the board, I need to specific gratitude and appreciation for his robust dedication and his contributions to the success of the agency. We want him all the very best.”

Mumenthaler has been with the corporate since 1999 in notable management roles, together with chief advertising and marketing officer reinsurance and CEO – reinsurance.

“It has been a real privilege to serve and lead Swiss Re for therefore lengthy,” Mumenthaler mentioned. “I’m immensely grateful for the expertise and for the progress the complete firm has made throughout this time, rallying a lot excellent expertise behind a significant goal. I’m happy to be handing over the helm when the corporate has been capable of ship on its guarantees. I really feel now could be the proper second for me to maneuver on. It’s implausible that we appoint one in all my colleagues to succeed me. With Andreas, Swiss Re shall be in good palms.”

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