Swiss Re announced today the appointment of Thierry Léger as the Group Chief Underwriting Officer, effective 1 September 2020.
He succeeds Edi Schmid, who has decided to step down from the Group Executive Committee for personal reasons and take on an advisory role.
Thierry Léger has been leading the Life Capital Business Unit, which combines Swiss Re’s ReAssure, elipsLife and iptiQ businesses, since its creation in January 2016. He joined Swiss Re as an engineering underwriter in P&C in 1997, before moving to Swiss Re New Markets in 2001, providing non-traditional solutions to insurance clients.
Swiss Re’s Group Chief Executive Officer Christian Mumenthaler said: “The changes announced today will position Swiss Re well for the next chapter of the Group’s strategic development. Having grown dynamically over the past years, iptiQ is on track to becoming a leading player in its field. And being part of Corporate Solutions will open further growth opportunities for elipsLife. In underwriting, we will continue to evolve our capabilities through cutting-edge research, access to more and better data and advanced analytics.“
Swiss Re’s Chairman Walter B. Kielholz said: “Thierry's expertise in underwriting, technology, data and innovative solutions will be a big asset in furthering the development of Swiss Re’s leading position in underwriting.“
Following the completion of the sale of ReAssure to Phoenix Group Holdings plc, which is expected for the third quarter of 2020, the Life Capital Business Unit will be disbanded. This process is expected to be concluded by the end of December 2020. Effective 1 September 2020, the CEO Life Capital will no longer be a member of the Group Executive Committee.
Subject to applicable regulatory approvals, elipsLife, which provides life and health insurance solutions and services for corporate clients, will move to Corporate Solutions at the end of September 2020, allowing it to better leverage this Business Unit’s relationships with corporates and brokers.
Swiss Re’s white-labelling digital insurance platform iptiQ will become a standalone division reporting to the Group CEO, effective 1 January 2021, enabling a
greater focus on this business. Swiss Re continues to assess the further streamlining of the legal entity structure of the Group..