Swiss Re's Board of Directors appoints Michel M. Liès as new Group Chief Executive Officer and Moses Ojeisekhoba as new CEO Reinsurance Asia and Regional President

19 January 2012, Zurich

Swiss Re's Board of Directors appoints Michel M. Liès, currently Chairman Global Partnerships at Swiss Re, as new Group Chief Executive Officer as of 1 February 2012. Michel M. Liès succeeds Stefan Lippe.

The Board of Directors also announces that Moses Ojeisekhoba will join Swiss Re as CEO Reinsurance Asia and Regional President Asia, effective 15 March 2012. Martyn Parker, currently CEO Reinsurance Asia, will return to Europe.

Walter B. Kielholz, Chairman of the Board of Directors, says: "The Board of Directors is delighted that Michel M. Liès will assume the position of Group CEO as of 1 February 2012. Michel M. Liès' proven track record in reinsurance and broad international experience will support our mission to become the leading player in the wholesale re/insurance industry, while ensuring strategic and operational continuity. He brings with him in-depth knowledge of all facets of the business, an excellent reputation with clients as well as with governmental organisations and tremendous insights into the growth area of emerging markets, one of our main strategic pillars".

Michel M. Liès has built up a wealth of experience in the areas of both life and non-life re/insurance from the various roles he has held at Swiss Re for more than 30 years. In his current role as Chairman Global Partnerships, Michel M. Liès focuses on building and deepening long-term relationships with public sector stakeholders, governments and NGO’s, with a particular focus on emerging markets. Prior to becoming Chairman Global Partnerships, Michel M. Liès served as Swiss Re’s Head Client Markets, where he was in charge of all client relationships worldwide, and was a member of the Group’s Executive Committee from 2005. Before that he was Head of Europe Division from 2000 to 2005 and Head of Latin America Division from 1998 to 2000.

"I am extremely excited about assuming the role of Group CEO of Swiss Re," said Michel M. Liès. "The company is in a healthy state after the successful turn-around, and I am fully committed to implementing and further developing the strategy set, advancing our market position. I will ensure that we continue to leverage our exceptional underwriting capacity as well as our clear focus on client centricity. We will also place great emphasis on providing a working environment where the best people in the industry will want to succeed, and on increasing the long-term value for our shareholders."

As announced in December 2011, Stefan Lippe has decided to step down as Group CEO of Swiss Re.

New CEO Reinsurance Asia and Regional President Asia
Swiss Re's Board of Directors also announces that Moses Ojeisekhoba will join Swiss Re as CEO Reinsurance Asia, effective 15 March 2012, reporting to Christian Mumenthaler, CEO Reinsurance. In addition, Moses Ojeisekhoba will become Regional President, representing the Swiss Re Group in Asia, and join the Group Executive Committee.

Moses Ojeisekhoba joins Swiss Re from Chubb Group of Insurance Companies where he has been Head for Asia-Pacific since 2009, responsible for the strategy and repositioning of Chubb’s business in this region. Chubb is a leading Property and Casualty insurer based in the US. Ojeisekhoba has spent 16 years with Chubb in various roles in the US, Europe and Asia. Prior to this, he worked with Unico American Corporation and Prudential in the US.

“Moses Ojeisekhoba’s strategic leadership, primary market experience and fresh perspective make him ideal to lead Swiss Re Asia into the next phase of growth and strengthen our position as a partner of choice for local, regional and global clients”, says Walter Kielholz, Chairman of the Board. “I would like to thank Martyn Parker for driving our successful growth story in Asia over the last six years.”

Martyn Parker, who has been serving as CEO Reinsurance Asia since June 2006, will return to Europe. His future role will be announced in due course.

Notes to editors

Swiss Re
The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of 56 offices globally and is rated "AA-" by Standard & Poor's, "A1" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed on the SIX Swiss Exchange and trade under the symbol SREN.