Swiss Re announces plans to streamline organisational structure
Swiss Re Ltd / Key word(s): Corporate Action/Restructure of Company
Ad hoc announcement pursuant to Article 53 LR
Zurich, 2 February 2023 Swiss Re today announced plans to streamline its organisational structure. The reorganisation, which aims to simplify structures, improve efficiency and client experience, will be effective 3 April 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 reorganisation will not change the way Swiss Re reports its financial results externally.
Group CEO Christian Mumenthaler said: "The planned changes will emphasise performance accountabilities and bring clear efficiencies. The simpler set-up with shorter decision paths will also result in enhanced client focus."
For further information please contact Swiss Re Media Relations: + 41 (0)43 285 7171 or Media_Relations@Swissre.com.
Cautionary note on forward-looking statements
End of Inside Information
|Company:||Swiss Re Ltd|
|Phone:||+41 (0) 43 285 71 71|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1549573|
|End of Announcement||EQS News Service|
1549573 02-Feb-2023 CET/CEST
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