Russell Higginbotham to become new Swiss Re CEO Reinsurance EMEA and Regional President EMEA and member of the Group Executive Committee; Jean-Jacques Henchoz to leave Swiss Re
22 August 2018, Zurich
Swiss Re today announces that Russell Higginbotham is appointed CEO Reinsurance EMEA and Regional President EMEA and member of the Group Executive Committee, effective 1 September 2018. Russell Higginbotham succeeds Jean-Jacques Henchoz, who has decided to pursue an opportunity outside Swiss Re.
Russell Higginbotham has worked for Swiss Re for 24 years in roles across multiple business areas and geographies. Most recently, he led Swiss Re's global Life & Health (L&H) Products Division, where he played a pivotal role in strengthening the company's L&H solutions offering, boosting product innovation and maintaining the growth of large L&H reinsurance transactions. Previously, Russell Higginbotham served as CEO of Swiss Re UK & Ireland, CEO of Swiss Re Australia and New Zealand and led the company's L&H businesses in Japan and Korea. He has also held various appointments outside Swiss Re, having been a Director of both the Association of British Insurers and the International Underwriting Association, as well as President of the Insurance Institute of London.
Swiss Re Chairman, Walter B. Kielholz, says: "Russell Higginbotham has a very strong track record within Swiss Re, making him the ideal candidate to continue leading the growth of our business in EMEA. Over the last few years, he has played a significant role in strengthening our L&H Products segment and improving its contribution to the Group."
Swiss Re is pleased that this appointment of a strong internal candidate brings important continuity for its clients.
Walter B. Kielholz continues: "On behalf of the Swiss Re Board of Directors, I would like to thank Jean-Jacques Henchoz for his contribution to Swiss Re throughout the past 20 years. Before becoming CEO Reinsurance EMEA and Regional President EMEA, he held a number of leadership roles across the company with increasing impact over the years."
About 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 around 80 offices globally and is rated "AA-" by Standard & Poor's, "Aa3" by Moody's and "A+" by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed in accordance with the International Reporting Standard on the SIX Swiss Exchange and trade under the symbol SREN. For more information about the Swiss Re Group, please visit: www.swissre.com or follow us on Twitter @SwissRe.
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Certain statements and illustrations contained herein are forward-looking. These statements (including as to plans, objectives, targets, and trends) 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.
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- the frequency, severity and development of insured claim events, particularly natural catastrophes, man-made disasters, pandemics, acts of terrorism and acts of war;
- mortality, morbidity and longevity experience;
- the cyclicality of the insurance and reinsurance sectors;
- instability affecting the global financial system;
- deterioration in global economic conditions;
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- changes in legislation and regulation, and the interpretations thereof by regulators and courts, affecting us or the Group’s ceding companies, including as a result of shifts away from multilateral approaches to regulation of global operations;
- the outcome of tax audits, the ability to realise tax loss carry forwards, the ability to realise 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, and the overall impact of changes in tax regimes on business models;
- failure of the Group’s hedging arrangements to be effective;
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- uncertainties in estimating reserves;
- policy renewal and lapse rates;
- uncertainties in estimating future claims for purposes of financial reporting, particularly with respect to large natural catastrophes and certain large man-made losses, as significant uncertainties may be involved in estimating losses from such events and preliminary estimates may be subject to change as new information becomes available;
- extraordinary events affecting the Group’s clients and other counterparties, such as bankruptcies, liquidations and other credit-related events;
- legal actions or regulatory investigations or actions, including those in respect of industry requirements or business conduct rules of general applicability;
- changes in accounting standards;
- significant investments, acquisitions or dispositions, and any delays, unexpected costs, lower-than expected benefits, or other issues experienced in connection with any such transactions;
- changing levels of competition, including from new entrants into the market; and
- operational factors, including the efficacy of risk management and other internal procedures in managing the foregoing risks and the ability to manage cybersecurity risks.
These factors are not exhaustive. The Group operates in a continually changing environment and new risks emerge continually. Readers are cautioned not to place undue reliance on forward-looking statements. Swiss Re undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.
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