Berger Joins Mumenthaler as CEO in Swiss Re

Swiss Re is set to appoint Andreas Berger as its new CEO, succeeding Christian Mumenthaler in July this year. Despite posting strong annual figures for 2023, the reinsurer’s share price has not performed as well as its competitors in recent years. Berger, who currently heads the Corporate Solutions business unit at Swiss Re, is seen as the right leader to steer the company into its next phase of development.

The resignation of Mumenthaler was unexpected, but not entirely surprising given the mixed business performance in recent years. Analyst Simon Fössmeier noted that it was only a matter of time before such a change occurred. The appointment of Berger is viewed as a positive move by analysts Georg Marti and Michael Klien from Zürcher Kantonalbank (ZKB), who believe that his leadership will be well-received by the market. Despite a decline in Swiss Re’s share price following the announcement, the company is benefitting from a positive market environment.

The upcoming change in the chairman of the board of directors, with Jacques de Vaucleroy likely to take over, is seen as part of an ongoing realignment of Swiss Re. The departure of Mumenthaler is expected regardless of this change, as the company looks to move forward and build on recent successes. With Ermotti’s return 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 for Swiss Re in the future.

By Aiden Johnson

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