Key responsibilities of individual members of the Group Executive Committee
Group Chief Executive Officer
The Group CEO is responsible for overseeing the operational management of the Group. This responsibility covers the Group Functions, Group Legal and the three Business Units Reinsurance, Corporate Solutions and Life Capital (and Division iptiQ respectively, after the disbandment of the BU Life Capital at the end of 2020). He leads and manages the Group EC, its processes, including succession planning and its costs, and is responsible for its performance. He oversees the work of the Group Function heads, the Group CLO and the Business Unit CEOs and gives them guidance on the execution of their tasks. He develops the Group strategy together with the Group EC and submits it to the Board of Directors for approval. Once approved, he focuses on the Group strategy’s implementation and its further development.
Group Chief Financial Officer
The Group CFO is responsible for the Group-wide Finance function, with a focus on steering and achieving the company’s financial targets. He is responsible for the US GAAP and EVM consolidated financial reporting, as well as the relevant quarterly and ad hoc business results disclosure. He has Profit & Loss responsibility for the alternative capital strategy. He provides guidance to the Business Unit CFOs, and gives input on the financial aspects of strategic projects and transactions. The Group CFO provides the Audit Committee and Finance and Risk Committee with regular and ad hoc financial reporting that allow the committees to fulfil their related responsibilities. The Group CFO’s responsibilities include the Group strategic process and initiating the respective discussions in the Group EC as preparation for submission of strategic content to the Board of Directors for approval. He augments the Business Units’ activities with targeted initiatives as well as systematically monitors and steers the implementation of the Group Strategy.
Group Chief Investment Officer
The Group CIO is responsible for the Group-wide Asset Management function and its investment results. He manages the investment portfolio, advises the BUs on defining their strategic asset allocation (SAA), and implements the Group and BUs SAAs within the risk limits set by the Group EC. The Group CIO retains responsibility for decisions on investment tactics and also provides financial market advice on strategic projects and transactions. In addition, the Group CIO is responsible for the Asset Management organisation and operational and compliance risks pertinent to his responsibilities.
Group Chief Operating Officer
The Group COO is responsible for the Group Operations function, its processes, including oversight of human resources and talent management as it relates to Group Operations, as well as its costs and performance. Her responsibilities include being a strategic partner to the Group and the Business Units in all operational matters and providing a high-quality, cost-effective and differentiating operating platform for the whole Group.
Group Chief Risk Officer
The Group CRO is responsible for providing the Board of Directors and Group EC with independent assurance that all of Swiss Re’s risks are being appropriately modelled, governed and managed and that adequate controls are in place. As part of executing these responsibilities, the Group CRO is charged with establishing the Group’s Risk Management Framework for all risk categories, including but not limited to financial, insurance and operational risk (the latter comprising reporting risks, legal and compliance risks and other operational risks).
Group Chief Underwriting Officer
The Group CUO is responsible for steering capital to the most attractive areas in underwriting, leading themes that are of strategic importance for the Group’s underwriting, providing research, development and analytics for selected portfolios and markets to improve both capital allocation and risk selection, and pursuing long-term strategic innovation and thought leadership by leveraging data, analytics, technologies and insights available in Swiss Re and the market.
Group Chief Human Resources Officer
The Group CHRO is responsible for the HR function Group-wide. This responsibility includes being a strategic partner to the Group CEO, Group EC and the Board of Directors on all people- and other HR-related matters. This includes defining and implementing a people strategy that helps enable the appropriate culture and human resources to support the business strategy of the Group. This work is conducted in close cooperation with the Group CEO and the Group EC.
Group Chief Legal Officer
The Group CLO is responsible for the Group-wide Legal and Compliance functions with a focus on managing and mitigating legal and compliance risks for the Group in conjunction with the Business Units and the Group Functions. He defines and implements a legal and compliance strategy in support of the business strategy of the Group. The Group CLO serves in a dual function as a strategic business partner in an enabling capacity as well as in the role of a controller in an oversight and governance capacity.
The Regional Presidents for the areas Americas, Asia and EMEA are responsible for representing the Group externally and internally, as well as enhancing the Swiss Re brand and safeguarding the Group’s reputation in the geographies for which they are responsible. The Regional Presidents also assume responsibility for oversight of the Group’s operating platform and coordinate activities across the Business Units in their regions.
The BU Chief Executive Officers
The Business Unit CEOs are responsible for the management and performance of the respective BU top-level company as well as the respective Business Unit. The Business Unit CEOs set the business and corporate agenda of the respective Business Unit, ensuring high-quality, performance-oriented and timely decision-making. They oversee the implementation of the decisions made and ensure the Business Unit Executive Committees fulfil their responsibilities.