Swiss Re gets a new CEO

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30 January 2012

Swiss Re has appointed current Global Partnerships Chairman Michel Liès as the successor to outgoing CEO Stefan Lippe.

Mr Liès will take over on Wednesday after 30 years with the reinsurer across various life and non-life management roles.

Mr Lippe retires three years after the $US8 billion ($7.52 billion) securities trading losses scandal that prompted the departure of former CEO Jacques Aigrain.

Since early 2009, Mr Lippe has regained Swiss Re’s AA credit rating with Standard & Poor’s, repaid the convertible capital instrument to Berkshire Hathaway and reported third-quarter net income more than doubled to $US1.35 billion ($1.27 billion).

Mr Liès has previously served as Head Client Markets, Head of Europe Division and Head of the Latin America Division.

Swiss Re also announced former Chubb Asia Pacific head Moses Ojeisekhoba will join Swiss Re as CEO Reinsurance Asia and Regional President Asia in March.

Martyn Parker, who has been CEO Reinsurance Asia since June 2006, will return to Europe.