Swiss Re proposes election of Robert Henrikson, Chairman and former CEO of MetLife, to its Board of Directors and strengthens regional representation in its Executive Committee

03 October 2011, Zurich

  • Robert Henrikson proposed for election to Board of Directors of Swiss Re Ltd at its next Annual General Meeting in April 2012
  • Swiss Re Group names Regional Presidents at Executive Committee level, effective 1 January 2012

Swiss Re's Board of Directors will propose Robert Henrikson, Chairman and former Chief Executive Officer of MetLife, Inc., for election to the Board at its next Annual General Meeting on 13 April 2012. If successfully elected, he will succeed Robert A. Scott who will resign from the Board after reaching retirement age.

Walter B. Kielholz, Chairman of the Board of Directors of Swiss Re, said: "I am delighted that Robert Henrikson has agreed to his nomination. With his extensive experience in the insurance industry as a Chief Executive Officer as well as a Chairman of the Board of Directors, he brings a deep expertise in business of our most important clients and in the key US market."

Robert Henrikson, a US national, has served as Chairman of the Board of MetLife, Inc. since April 2006 and was MetLife's Chief Executive Officer (CEO) from March 2006 through April 2011. As Chief Executive, Robert Henrikson led MetLife to achieve record financial results and positioned the company to expand its leadership positions.

Robert Henrikson holds a Bachelor of Arts from the University of Pennsylvania and a Juris Doctor from Emory University School of Law. In July 2010, Henrikson was appointed by President Barack Obama to the President’s Export Council, the principal national advisory committee on international trade. He is the former chairman of the Financial Services Forum.

Executive Committee strengthened with Regional Presidents

In order to strengthen regional representation at the senior leadership level, the company has named three Regional Presidents to the Executive Committee of Swiss Re Ltd, effective 1 January 2012. The Regional President role is newly established and will be assumed in the respective regions by the existing regional heads of Swiss Re's Reinsurance Business Unit in addition to their current responsibilities.

The Regional Presidents will serve as senior representatives of the Swiss Re Group in their particular region. The three Regional Presidents are as follows:

Jean-Jacques Henchoz, responsible for Europe, Middle East and Africa (EMEA), joined Swiss Re in 1998 and served as CEO of Swiss Re Canada until mid-2010.

Martyn Parker, responsible for Asia, joined Swiss Re in 1996 with the acquisition of Mercantile and General Re. He has been head of Swiss Re's Reinsurance Asia division since 1 June 2006.

J. Eric Smith, responsible for the Americas, joined Swiss Re in July 2011 from USAA Life Insurance Co. where he had been President since 2010. Prior to that, he was President of Allstate Financial Services for seven years.

Notes to editors

Swiss Re Ltd

Swiss Re Ltd is the holding company for the Swiss Re Group. Its shares are listed on the SIX Swiss Exchange and trade under the symbol SREN.

Swiss Reinsurance Company Ltd

Swiss Reinsurance Company Ltd 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.

Cautionary note on forward-looking statements

Certain statements and illustrations contained herein are forward-looking. These statements and illustrations provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical fact or current fact. Forward-looking statements typically are identified by words or phrases such as “anticipate“, “assume“, “believe“, “continue“, “estimate“, “expect“, “foresee“, “intend“, “may increase“ and “may fluctuate“ and similar expressions or by future or conditional verbs such as “will“, “should“, “would“ and “could“. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Swiss Re’s actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed or implied by such statements. Such factors include, among others:

  • further instability affecting the global financial system and developments related thereto, including as a result of concerns over sovereign debt of peripheral eurozone countries;
  • further deterioration in global economic conditions;
  • Swiss Re’s ability to maintain sufficient liquidity and access to capital markets, including sufficient liquidity to cover potential recapture of reinsurance agreements, early calls of debt or debt-like arrangements and collateral calls under derivative contracts due to actual or perceived deterioration of our financial strength;
  • the effect of market conditions, including the global equity and credit markets, and the level and volatility of equity prices, interest rates, credit spreads, currency values and other market indices, on our investment assets;
  • changes in Swiss Re’s investment result as a result of changes in our investment policy or the changed composition of our investment assets, and the impact of the timing of any such changes relative to changes in market conditions;
  • uncertainties in valuing credit default swaps and other credit-related instruments;
  • possible inability to realize amounts on sales of securities on Swiss Re’s balance sheet equivalent to their mark-to-market values recorded for accounting purposes;
  • the outcome of tax audits, the ability to realize tax loss carryforwards and the ability to realize deferred tax assets (including by reason of the mix of earnings in a jurisdiction or deemed change of control), which could negatively impact future earnings;
  • the possibility that Swiss Re’s hedging arrangements may not be effective;
  • the lowering or loss of one of the financial strength or other ratings of one or more Swiss Re companies, and developments adversely affecting our ability to achieve improved ratings;
  • the cyclicality of the reinsurance industry;
  • uncertainties in estimating reserves;
  • the frequency, severity and development of insured claim events;
  • acts of terrorism and acts of war;
  • mortality and morbidity experience;
  • policy renewal and lapse rates;
  • extraordinary events affecting Swiss Re’s clients and other counterparties, such as bankruptcies, liquidations and other credit-related events;
  • current, pending and future legislation and regulation affecting Swiss Re or Swiss Re’s ceding companies, and regulatory or legal actions;
  • changes in accounting standards;
  • significant investments, acquisitions or dispositions, and any delays, unexpected costs or other issues experienced in connection with any such transactions, including, in the case of acquisitions, issues arising in connection with integrating acquired operations;
  • changing levels of competition; and
  • operational factors, including the efficacy of risk management and other internal procedures in managing the foregoing risks.

These factors are not exhaustive. We operate in a continually changing environment and new risks emerge continually. Readers are cautioned not to place undue reliance on forward-looking statements. We undertake no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.