Helvetia restructures for international growth and adds risk management to board

Swiss insurer Helvetia said a new corporate structure from 1 July will reflect its growth in international markets, while elevating risk management to representation on its board.

Helvetia will create a separate unit for Spain, its second-largest market, with former CEO of Liberty Seguros Europe Juan Estallo joining the insurer in September to head the Spanish business. Estallo will join the group executive board, with CEO Fabian Rupprecht overseeing the position until his arrival on 1 September 2024.

Helvetia’s operations in Germany, Italy and Austria will be brought together under a new unit, known as GIAM, and headed by Thomas Neusiedler alongside his existing role as CEO of Helvetia Austria. Neusiedler will also join the board.

Helvetia’s domestic operations in Switzerland and specialty markets will continue to operate separately, Helvetia said.

Rupprecht, who joined Helvetia in October 2023 to replace Philipp Gmür, said the group has shifted in recent years from a Swiss insurer to a group with a strong presence in international markets.

“Helvetia is thus taking the next strategic step in becoming an integrated international insurance group,” the company explained.

Group risk management will be strengthened with a seat at the group’s executive board, Helvetia said, although it has yet to appoint a head of group risk management. Chief risk officer Peter Bamert will fill the role in the interim.

Other key functions have also been added to the board: group finance, group asset management, group technology and group human resources, which will be headed by former group head of HR at Mibelle Group Esther Roman from 1 September 2024. At the same time, the board has discontinued the functions of group corporate centre and group actuary.

Roland Bentele, head of corporate centre, and CEO of Europe Markus Gemperle, will retire at the end of this year, stepping down from the board on 30 June, while head of group actuary Beat Müller will retire on 1 April 2025, also stepping down from the board in June 2024.

In other changes, Sandra Hürlimann, head of analytics & group solutions at Helvetia, will take over the role of group chief technology officer from Achim Baumstark, who will remain at the group as CTO for Switzerland.

“The new group structure now enables us to better align Helvetia’s management with this positive development. The international markets will be better represented on the group executive board,” Rupprecht said.