Swiss Re’s leadership structure brought into line with legal entity set-up following successful share exchange offer
22 June 2011, Zurich
Swiss Re is completing adjustments to its leadership structure to reflect the company’s new legal entity set-up. Stefan Lippe will continue to lead the Group as Chief Executive Officer of Swiss Re Ltd. Christian Mumenthaler becomes CEO of its reinsurance subsidiary, Swiss Reinsurance Company Ltd (SRZ).
The changes have been decided by the Board of Directors as a further step by Swiss Re in re-shaping its structure to enhance client focus, to increase capital efficiency and transparency, and to create long-term value for shareholders. This began with a share exchange offer, first announced on 17 February and declared successful on 18 May 2011.
As Chief Marketing Officer for Reinsurance since January 2011, Christian Mumenthaler is already responsible for leading and growing Swiss Re’s core reinsurance business. Effective 1 October 2011, he will become CEO of SRZ assuming additional responsibilities. Christian Mumenthaler will be accountable for the Group’s reinsurance strategy as well as its entire business performance, including financial results, capital and asset allocation, along with governing the legal entities comprised within SRZ.
Stefan Lippe will continue to focus on running the Group, in charge of implementing Group strategy, overseeing and taking ultimate responsibility for all businesses, and being accountable for the financial performance of Swiss Re Ltd.
Notes to editors
Swiss Re Ltd
Effective 20 May 2011, Swiss Re Ltd is the holding company of the Swiss Re group of companies.
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly diversified global reinsurer and part of the Swiss Re group of companies. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Reinsurance Company Ltd is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
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