Swiss Re Says Mumenthaler Becomes New CEO of Reinsurance
Swiss Re Ltd., the world’s second- biggest reinsurer, said Christian Mumenthaler will become head of its reinsurance business in October.
Mumenthaler, chief marketing officer for reinsurance since last October, will be responsible for strategy and business performance, including financial results and asset allocation, the Zurich-based company said today in an e-mailed statement.
Swiss Re last month formed a new holding company that overarches its reinsurance operations, which account for about 80 percent of the company’s business, plus the smaller corporate solutions and Admin Re units. Chief Executive Officer Stefan Lippe will continue to run the group, Swiss Re said today.
“Swiss Re is completing a refurbishment of its leadership structure to reflect the company’s new legal entity setup,” said Fabrizio Croce, a Zurich-based analyst with Kepler Capital Markets, in a note to investors. “The good news is that capable persons at Swiss Re are being promoted and are receiving more power and responsibility.”
To contact the reporter on this story: Carolyn Bandel in Zurich at cbandel@bloomberg.net
To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net
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