Christian Mumenthaler, the outgoing CEO of Swiss Re, has been a beacon of hope for the company, which is known for being somewhat sedate. When he took over the Corso business unit, it faced significant challenges, leading to what he referred to as a “year of pain.” However, this period of difficulty was likely necessary for the unit’s turnaround. Mumenthaler’s departure comes after successfully delivering the announced net profit of $3 billion for 2023.
To succeed Mumenthaler as CEO, Andreas Berger has been appointed, bringing with him a track record of success. Berger has been heading the Corporate Solutions (Corso) business unit at Swiss Re since 2019, where he has been credited with turning around a once struggling unit. Under Berger’s leadership, Corso has become profitable again and significantly improved its combined ratio.
Berger’s approach to revitalizing Corso has garnered praise and positions him as a potential transformative leader for Swiss Re. He is seen as a man of action, in contrast to Swiss Re’s somewhat sedate reputation. Berger’s focus on disciplined risk-taking, cost management, and sustained price increases has led to significant improvements within the Corso unit.
Berger’s international background, experience in various roles within the insurance industry, and proactive approach to leadership have positioned him as a potential catalyst for change within Swiss Re. His focus on team building, transparency, and clear communication has been praised by colleagues and observers alike. As he prepares to take on the role of CEO, Berger’s past successes and leadership style suggest a promising future for Swiss Re under his tenure.