Swiss Re announces changes to its Executive Board - Christian Mumenthaler to become Chief Risk Officer - Charlotte Gubler to become Head of Communication & Human Resources

03 June 2004, Zurich

Swiss Re has named Christian Mumenthaler as Chief Risk Officer of Swiss Re Group, succeeding Bruno Porro who will retire at the end of 2004. In addition Swiss Re has announced that Charlotte Gubler will become Head of Communication & Human Resources, succeeding Walter Anderau who will become Chairman of Swiss Re's Centre for Global Dialogue based in Rüschlikon. The changes will be effective 1 January 2005.

Swiss Re has named Christian Mumenthaler as Chief Risk Officer of Swiss Re Group, succeeding Bruno Porro who will retire at the end of 2004. In addition Swiss Re has announced that Charlotte Gubler will become Head of Communication & Human Resources, succeeding Walter Anderau who will become Chairman of Swiss Re's Centre for Global Dialogue based in Rüschlikon. The changes will be effective 1 January 2005.

In his new function as Chief Risk Officer, Christian Mumenthaler will become Member of the Executive Board and the Executive Board Committee of the Group reporting to Swiss Re's CEO John Coomber. Mr Mumenthaler will be in charge of Swiss Re's Risk & Knowledge Division which includes the Group's risk, claims, reinsurance liabilities and knowledge management.

Mr Mumenthaler joined Swiss Re in 1999 as manager in the Group's Strategic Planning unit. Since 2000, he led several key projects, including optimising the Group's risk and capital base through retrocession and securitisation.

Mr Mumenthaler succeeds Bruno Porro who will retire at the end of 2004. Mr Porro has been the Group's Chief Risk Officer since 1998. Mr Porro joined Swiss Re in 1978 and was fundamental in establishing the company's leading edge knowledge and expertise in natural catastrophes and risk management. Swiss Re would like to thank Mr Porro for his long and outstanding service to the company and wish him all the best for his future.

Swiss Re also announced that Charlotte Gubler is to become Head of Communication & Human Resources, succeeding Walter Anderau in this role. Mrs Gubler will become Member of the Executive Board of Swiss Re, reporting to CEO John Coomber. She will be in charge of the Group's communication function, global HR and certain corporate support functions.

Mrs Gubler joined Swiss Re in 1993 as Senior Credit Risk Manager. In 1995 she established the company's global Credit Risk Management business. In 2000 she became Executive Team Member of the Financial Services Business Group and Head Credit Solutions, a business sector of the Financial Services Business Group, in charge of all credit risk underwriting activities of Swiss Re.

Walter Anderau will become Chairman of Swiss Re's Centre for Global Dialogue in Rüschlikon. In this role he will focus on expanding Swiss Re's risk dialogue with its key stakeholders. Mr Anderau will be reporting to the Chairman and the Vice-Chairman of Swiss Re's Board of Directors, Peter Forstmoser and Walter Kielholz. He will take on his new responsibility as of 1 January 2005

Notes to editors

Swiss Re is one of the world's leading reinsurers and the world's largest life and health reinsurer. The company operates through more than 70 offices in over 30 countries. Swiss Re has been in the reinsurance business since its foundation in Zurich, Switzerland, in 1863. Through its three business groups Property & Casualty, Life & Health and Financial Services, Swiss Re offers a wide variety of products to manage capital and risk. Traditional reinsurance products, including a broad range of property and casualty as well as life and health covers and related services, are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated "AA" by Standard & Poor's, "Aa2" by Moody's and "A+" by A.M. Best.