Key responsibilities of the Group Executive Committee

Under the leadership of the Group CEO, the Group EC has management responsibility for matters concerning SRL as a legal entity. Additionally, the Group EC has management and functional responsibility for Group matters. In particular, the Group EC focuses on (the control of) the implementation of Swiss Re Group's Strategy, as promulgated and approved by the Board of Directors. In particular, it includes the responsibilities addressing Group Strategy, including strategic and financial targets for the Business Units; decisions on Group-wide steering and control; allocation of capital and resources to business opportunities; asset and liability management, treasury, Group funding and capital management; finance and risk management, governance, compliance, legal and regulatory affairs; functional issues such as human resources, talent management as well as reputational issues and branding. In particular with respect to the below topics, the Group EC:

Governance

  • has overall responsibility for managing Group operations
  • issues guidelines relating to the delegation of decision-making authority within the Group

Strategy and structure

  • Ensures implementation of the Group strategy
  • decides on legal, financial and management structures, as delegated by the Board of Directors

Planning

  • Prepares and proposes the Group business plan to the Board of Directors for approval and reviews the Business Units’ business plans

Financial reporting

Oversees the preparation and presents to the Board of Directors the annual and interim financial statements of both SRL and the Group together with segment reporting on the Business Units

Capital management

  • establishes principles on financing through capital markets and the allocation of financial resources within the Group
  • establishes the principles for intra- Group transactions and funding

Risk management

  • establishes the principles for external retrocession and the balancing of Group-wide catastrophe and accumulated risk
  • supervises the Group’s internal control evaluation and certification process

Business transactions

  • decides on certain strategic transactions and proposes important strategic transactions to the Board of Directors for discussion and decision

Legal, regulatory and compliance

  • oversees implementation of Group- wide compliance procedures and monitors remediation of any regulatory and compliance deficiencies

People Strategy

  • Has responsibility for the Group’s people management, subject to the authority of the Board of Directors

Compensation

  • makes proposals for the individual compensation of selected members of senior management
  • proposes benefit plans to the Compensation Committee for decision