Swiss Re announced that Andreas Berger will become group chief executive officer, effective July 1, 2024, taking over from Christian Mumenthaler, who will step down.

“The board unanimously determined that Andreas Berger is the right person to build on the firm’s current momentum and lead Swiss Re into the next phase of its development,” said Jacques de Vaucleroy, Swiss Re’s vice chairman of the Board of Directors.

“After five years with Swiss Re, he 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,” de Vaucleroy added.

“Christian Mumenthaler steered the company through a period with elevated natural catastrophe activity, an unprecedented low interest rate environment and the COVID-19 pandemic. During his eight-year tenure, Swiss Re’s premiums earned and fee income grew from around $30 billion in 2015 to $45 billion in 2023 and group capitalization was also strengthened substantially, as evidenced by the increased Swiss Solvency Test ratio,” he said.

“With the tailwind of delivering on all 2023 financial targets, a dividend increase, and the positive effects of group reorganization coming through, now is the right moment for CEO succession,” de Vaucleroy continued. “Christian 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.”

“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,” Mumenthaler commented. “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.”

When Berger becomes group CEO on July 1, he will step down as the CEO of Corporate Solutions. The selection process for his successor is under way.

Biography

Berger (57) joined Swiss Re in March 2019 as chief executive officer Corporate Solutions and member of the Group Executive Committee. Before that, he held leadership positions at Boston Consulting Group, Gerling and Allianz. In 2009, he was appointed Allianz Global Corporate & Specialty SE (AGCS) CEO, Regional Unit London. In 2011, he joined the AGCS Board of Management as chief regions and market officer (Central & Eastern Europe, Mediterranean, Africa and Asia).

In addition, he assumed responsibility for the Global Broker Channel Distribution for the Allianz Group. He is chairman of the International Insurance Society and board member of Advance, the Swiss initiative for gender equality in business.

Berger studied in Giessen and Paris and holds a master’s degree in law and a master’s degree in business administration from the Justus Liebig University Giessen (Germany). He was born in Kigali (Rwanda), lives near Zurich, and is a German citizen.

Source: Swiss Re