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Swiss Re Names New Group Chief Underwriting Officer; To Disband Life Capital Business Unit

Reinsurer Swiss Re (SSREY.PK) announced Friday the appointment of Thierry Léger as the Group Chief Underwriting Officer, effective September 1.

He succeeds Edi Schmid, who has decided to step down from the Group Executive Committee for personal reasons. He will take on an advisory role.

Schmid joined Swiss Re in 1991. He has been the Group Chief Underwriting Officer and member of the Group Executive Committee since July 2017.

Léger has been leading the Life Capital Business Unit, which combines Swiss Re's ReAssure, elipsLife and iptiQ businesses, since its creation in January 2016. He joined Swiss Re as an engineering underwriter in P&C in 1997.

Further, the company noted that the Life Capital Business Unit will be disbanded following the completion of the sale of ReAssure to Phoenix Group Holdings plc, which is expected for the third quarter of 2020. This process is expected to be concluded by the end of December 2020. Effective September 1, the CEO Life Capital will no longer be a member of the Group Executive Committee.

elipsLife, which provides life and health insurance solutions and services for corporate clients, will move to Corporate Solutions at the end of September 2020.

Swiss Re's white-labelling digital insurance platform iptiQ will become a standalone division reporting to the Group CEO, effective January 1, 2021.

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