Swiss Re names Andreas Berger as CEO

Swiss Re has named Andreas Berger, CEO of Swiss Re Corporate Solutions, as its next group CEO. Berger will take over on 1 July with Christian Mumenthaler stepping down from the role after eight years and 25 years with the company. A search for Berger’s successor at Corporate Solutions is underway. Jacques de Vaucleroy, vice chairman of Swiss Re’s board of directors, said the decision to appoint Berger was unanimous. “After five years with Swiss Re, he [Berger] looks back on a convincing track record, underscored by the successful turnaround of the Corporate Solutions business unit he has led. He has demonstrated a strong focus on execution while at the same time innovating the business with data analytics-based solutions,” said De Vaucleroy. “The board’s thorough succession planning process has resulted in the appointment of an outstanding candidate for the role of group CEO while it has also demonstrated the strength and depth of Swiss Re's leadership talent,” he added. Berger joined Swiss Re in 2019 as CEO of Corporate Solutions at a time when the business was struggling. But he pretty quickly turned things around and consistently over delivered on targets. Swiss Re Corporate Solutions increased net income again last year, this time by 42% to $678m, as its parent group saw profits jump 580% to $3.21bn from $472m following a difficult 2022. Corporate Solutions’ combined ratio was 91.7% from 93.1% in 2022 and below its 94% target. Berger has made his way to the top of Swiss Re via the commercial insurance market. Before joining Corporate Solutions he was CEO of Allianz Global Corporate & Specialty’s (AGCS) Regional Unit in London. In 2011, he joined the AGCS board of management as chief regions and markets officer. He is chairman of the International Insurance Society and board member of Advance, the Swiss initiative for gender equality in business. "I am honoured by the board's decision to appoint me to lead this great company,” said Berger. “Swiss Re has an outstanding global client franchise across reinsurance and Corporate Solutions, underpinned by the incredibly strong Swiss Re brand and capital position. 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.” De Vaucleroy said that with the tailwind of delivering on all 2023 financial targets, a dividend increase and the positive effects of group reorganisation coming through, now is the right moment for CEO succession. He said Mumenthaler 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,” he added. Mumenthaler said 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. 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,” he said.

Swiss Re names Andreas Berger as CEO

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