Swiss Re's Chief Investment Officer David Blumer decides to leave the company
05 October 2012, Zurich
Swiss Re's Board of Directors announces that Chief Investment Officer David Blumer has decided to leave the company, effective 1 November 2012. A successor will be announced in due course.
David Blumer joined Swiss Re in May 2008 as Head of Asset Management and member of Swiss Re's Executive Committee. In addition, he assumed in October 2010 the role of Chairman of Admin Re®, Swiss Re's Business Unit responsible for acquiring closed blocks of life insurance business.
Walter B. Kielholz, Chairman of the Board of Directors, says: "The Board of Directors very much regrets David's decision to leave Swiss Re after more than four years of successfully leading Asset Management. Under his leadership, Swiss Re's Asset Management has focused on a prudent asset-liability matched approach and has delivered excellent investment returns, despite turbulent financial markets. Asset Management is exceptionally well-placed to continue to support Swiss Re's new corporate structure and in achieving Swiss Re's five-year financial targets. Our Admin Re® Business Unit has also greatly benefited from David's expertise, not least in the context of the recent sale of the US business of Admin Re®."
Prior to joining Swiss Re, David Blumer had been a member of the Executive Board at Credit Suisse. Born in 1968, David Blumer is a Swiss citizen and a graduate in economics of the University of Zurich.
Notes to editors
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 over 60 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. For more information about Swiss Re Group, please visit: www.swissre.com or follow us on Twitter @SwissRe.
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