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Berger appointed as CEO at Swiss Re alongside Mumenthaler

Byeditor

Apr 3, 2024

Andreas Berger is set to replace Christian Mumenthaler as the CEO of Swiss Re, despite the strong annual figures for 2023. The reinsurer’s share price has lagged behind its competitors in recent years. Berger, who currently heads the Corporate Solutions business unit at Swiss Re, will assume the role of CEO in July of this year. Mumenthaler, who has been in the position since July 2016, is stepping down.

The decision to appoint Berger as the new CEO was made by Swiss Re’s board of directors, who believe he is the right leader to guide the company into its next phase of development. Born in Rwanda, Berger has been with Swiss Re since 2019, with previous experience in management positions at Boston Consulting Group, Gerling, and Allianz. Despite Swiss Re’s strong performance in 2023, Mumenthaler’s resignation came as a surprise to many analysts.

Over the past years, Swiss Re has faced challenges such as low interest rates, costly natural disasters, and the COVID-19 pandemic. Mumenthaler’s tenure has been marked by mixed to poor business figures, leading to criticism from investors. The appointment of Berger as CEO is seen as a positive step to avoid falling back into old patterns in tougher times. Berger’s successful turnaround of the Corporate Solutions business unit is expected to be well-received by the market.

While Swiss Re’s shares have shown improvement in 2023 with significant price increases, the company’s stock performance has historically fallen short compared to its competitors. The decision to appoint Berger as CEO is seen as a strategic move to build on the positive market situation and avoid reverting to old patterns. The company’s future outlook remains promising, with Berger expected to lead Swiss Re into a new phase of growth and development.

By editor

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