Swiss Re’s Board of Directors has appointed Andreas Berger as Group Chief Executive Officer (CEO), effective 1 July 2024.
He will succeed Christian Mumenthaler, who has decided to step down after an eight-year tenure as Group CEO and a 25-year career with the global reinsurer.
Berger, who has been with Swiss Re for five years, is currently the CEO of the Corporate Solutions Business Unit. His leadership has been marked by a successful turnaround of the unit, leveraging data analytics-based solutions to innovate the business, the global reinsurer said in an announcement.
Jacques de Vaucleroy, Vice Chairman of Swiss Re’s Board of Directors, praised Berger’s track record and focus on execution, commenting, “The Board unanimously determined that Andreas Berger is the right person to build on the firm’s current momentum and lead Swiss Re into the next phase of its development.”
On his new role, Berger commented, “I am honoured by the Board’s decision to appoint me to lead this great company. I’m looking forward to working with all my colleagues on the Group Executive Committee, Swiss Re’s employees and the Board of Directors to further strengthen this franchise and serve Swiss Re’s clients to achieve their goals.”
Under Mumenthaler’s leadership, Swiss Re navigated through challenges, including elevated natural catastrophe activity, a low-interest rate environment, and the COVID-19 pandemic. The company has seen growth in premiums earned and fee income, from around US$30bn in 2015 to US$45bn in 2023 and the firm’s capitalisation and Swiss Solvency Test ratio have substantially increased, Swiss Re said.
On his time at Swiss Re, the departing Mumenthaler commented, “It has been a true privilege to serve and lead Swiss Re for so long. 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.”
He added that he felt the time was right to move on and that Swiss Re “will be in good hands” under Berger’s leadership.
On Mumenthaler’s departure, 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.”
Swiss Re also said in its announcement that it has initiated the selection process for Berger’s successor as CEO of Swiss Re Corporate Solutions.
