Swiss Re has announced a major leadership change with Andreas Berger (pictured) set to assume the role of group chief executive officer on July 1, 2024, succeeding company vet Christian Mumenthaler, who has decided to step down following an eight-year tenure.
Berger, who joined Swiss Re in March 2019, brings extensive experience from his previous roles at Boston Consulting Group, Gerling, and Allianz.
“I am honored by the board’s decision to appoint me to lead this great company,” Berger said.
Berger also emphasized his commitment to strengthening Swiss Re’s global client franchise and working closely with colleagues, the group executive committee, and the board of directors to achieve the company’s goals.
With Berger’s appointment as group CEO, he will also relinquish his current role as CEO of Corporate Solutions. The search for his successor is underway.
Jacques de Vaucleroy, Swiss Re’s vice chairman of the board of directors, highlighted the board’s unanimous decision for the “right person” to build on the company’s momentum.
de Vaucleroy also praised Berger’s successful track record at Swiss Re, particularly noting his achievements in turning around the Corporate Solutions Business Unit.
“He has demonstrated a strong focus on execution while at the same time innovating the business with data analytics-based solutions,” de Vaucleroy said.
Reflecting on Mumenthaler’s leadership, de Vaucleroy highlighted his work in steering the company through a period with elevated natural catastrophe activity, an unprecedented low interest rate environment and the COVID-19 pandemic.
“With the tailwind of delivering on all 2023 financial targets, a dividend increase, and the positive effects of group reorganization coming through, now is the right moment for CEO succession,” de Vaucleroy said.
“Christian is an incredibly dedicated, passionate, and intellectually strong leader who has made an impact, also beyond Swiss Re. On behalf of the board, I want to express gratitude and appreciation for his strong commitment and his contributions to the success of the firm. We wish him all the best.”
Mumenthaler has been with the company since 1999 in notable leadership roles, including chief marketing officer reinsurance and CEO - reinsurance.
“It has been a true privilege to serve and lead Swiss Re for so long,” Mumenthaler said. “I am immensely thankful for the experience and for the progress the entire company has made during this time, rallying so much outstanding talent behind a meaningful purpose. I am pleased to be handing over the helm when the company has been able to deliver on its promises. I feel now is the right moment for me to move on. It is fantastic that we appoint one of my colleagues to succeed me. With Andreas, Swiss Re will be in good hands.”
What are your thoughts on this story? Please feel free to share your comments below.
