Swiss Re, one of the largest reinsurers globally, has announced the appointment of Andreas Berger as its new CEO. This comes after Christian Mumenthaler’s resignation and despite strong annual figures for 2023. Berger will take over the role of CEO in July this year, succeeding Mumenthaler who currently heads the corporate solutions business unit at Swiss Re.

Swiss Re’s share price has not performed as well as its rivals in recent years, but analysts like Simon Fessmeier believe that this change in leadership will be well received by the market. Georg Marti and Michael Klin of Zircher Kantonalbanka (ZKB) also see it as a positive move that will benefit from a positive market environment. Despite a drop in Swiss Re’s share price following the announcement, de Vaucleroi vice chairman of Swiss Re’s board of directors, believes that Berger is the right leader to guide Swiss Re into its next phase of development.

Swiss Re faced challenges in previous years and repeatedly failed to meet investors’ expectations, leading to Mumenthaler’s resignation. However, analysts note that this was expected given the company’s mixed performance in recent years. With Ermotti returning to UBS after a brief stint at Swiss Re, the company is focused on maintaining a results-oriented approach under new leadership. The appointment of Berger as CEO is seen as a step towards ensuring continued growth and development of Swiss Re in the future.

By Samantha Johnson

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