Re-org at Swiss Re
Swiss Re is undergoing a re-org to simplify structures, improve efficiency and client experience. It will be effective April 3, 2023, subject to regulatory approvals.
The current Reinsurance Business Unit will be split into P&C Re and L&H Re, with each having full authority over the respective underwriting and claims management processes. Urs Baertschi, currently Chief Executive Officer Reinsurance EMEA, will lead P&C Re, while Paul Murray, currently CEO Reinsurance Asia Pacific, will lead L&H Re.
Moses Ojeisekhoba, currently CEO Reinsurance, will take over leadership of Global Clients and Solutions. This Business Unit will contain the client management teams servicing Swiss Re’s global reinsurance clients, Public Sector Solutions, iptiQ and Reinsurance Solutions.
Corporate Solutions continues as a Business Unit under the leadership of Andreas Berger.
The responsibilities of the Group Chief Underwriting Officer will be reallocated, most importantly to the CUOs of P&C Re and L&H Re, as well as to Group Risk Management, to continue the Group’s focus on underwriting excellence. The tasks of the Regional Presidents will be reallocated as the roles will no longer exist in the new set-up.
The reorganization will not change the way Swiss Re reports its financial results externally.
“The planned changes will emphazise performance accountabilities and bring clear efficiencies. The simpler set-up with shorter decision paths will also result in enhanced client focus.” – Group CEO Christian Mumenthaler.