Swiss Re CEO steps down, successor named

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

Veteran exits the position after eight years

Swiss Re CEO steps down, successor named


Kenneth Araullo

Swiss Re has introduced a significant management change with Andreas Berger (pictured) set to imagine the position 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 choice to nominate me to guide this nice firm,” Berger mentioned.

Berger additionally emphasised his dedication to strengthening Swiss Re’s international shopper franchise and dealing carefully with colleagues, the group govt committee, and the board of administrators to attain the corporate’s targets.

With Berger’s appointment as group CEO, he may also relinquish his present position 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 choice for the “proper individual” to construct on the corporate’s momentum.

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

“He has demonstrated a robust give attention to execution whereas on the identical time innovating the enterprise with information 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 surroundings and the COVID-19 pandemic.

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

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

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 function. I’m happy to be handing over the helm when the corporate has been capable of ship on its guarantees. I really feel now’s the precise second for me to maneuver on. It’s improbable that we appoint one in every of my colleagues to succeed me. With Andreas, Swiss Re can be in good arms.”

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