Swiss Re appoints Paula Patel to head 300-person operation in Bangalore

20 March 2007, Bangalore

Swiss Re today announced the appointment of Paula Patel as Managing Director of its 300-person Shared Services Centre, replacing Anders Ihr who is returning to the company's head office in Zurich after four years in the job.

Mrs Patel is a 28-year veteran of the insurance industry, having started her career in the UK in 1979 at Mercantile, General Reinsurance, which was acquired by Swiss Re in 1996. Mrs Patel has worked in areas ranging from policy administration to life underwriting, claims, technical accounting as well as the rollout of new systems applications. She has also held a front-line marketing role as Business Development Manager for a number of Swiss Re UK's Life and Health clients.

In 2001, she was Head of Administration for Swiss Re UK and in 2003 she took on the role of Head of Operations for Swiss Re's Admin Re® business in the UK, where she was involved in managing relationships with outsourcing partners, due diligence and transition for new deals.

Just prior to taking the helm at Swiss Re's Bangalore office, which provides claims administration, technical accounting and other business process support to the company's offices in Europe and Asia-Pacific, Mrs Patel led the technical accounting integration of the former GE Insurance Solutions, a company which Swiss Re acquired in 2006.

Mr Ihr, who leaves Bangalore after almost 10 years in Asia, welcomed Mrs Patel, saying, 'I cannot imagine a more capable, experienced and appropriate pair of hands in which to leave this high-performance team, which has become such a mainstay of Swiss Re's success in Asia and beyond.'

Note to Editors

Swiss Re is the world's leading and most diversified global reinsurer. The company operates through offices in more than 25 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 Re is rated 'AA-' by Standard, Poor's, 'Aa2' by Moody's and 'A+' by A.M. Best.

The company has been present in India since 1998. It established Swiss Re Shared Services Pvt Ltd in Bangalore in 2001, and opened a Service Company in Mumbai in 2002 to provide service to Swiss Re Zurich in its reinsurance activities.
In 2007, Swiss Re entered into a joint venture with India's TTK Group by acquiring 26% of TTK Healthcare Services Pvt Ltd, India's leading Third Party Administrator.

Swiss Re has been associated with Asia since 1913 and now has more than 900 staff in Asia Pacific. In 2006, Swiss Re celebrated 50 years since opening its first offices in Asia Pacific.