Swiss Re Appoints Singh as New Chief Risk Officer

Swiss Re announced that it has appointed Raj Singh as the Group’s new Chief Risk Officer. He will succeed Christian Mumenthaler who is taking over operational leadership of the global Life & Health Products Division.

Singh will join Swiss Re from Allianz SE, where he served as Chief Risk Officer for the Group. He has been elected by the Board of Directors upon recommendation of Swiss Re’s CEO Jacques Aigrain, and will join the Company at the latest by January I, 2008.

Aigrain indicated that Singh “can build on the excellent work of his predecessor,” Mumenthaler, who has been CRO since 2005. Aigrain also cited Singh’s “broad international experience in the insurance and banking sector,” and said he would “contribute to the continued development of our position as the leading risk transformer.”

Singh will also succeed Mumenthaler as a Member of the Executive Committee. He has been in charge of Risk Management at the Allianz Group since 2002, said the bulletin. As Chief Risk Officer at Allianz he “was responsible for the definition of risk policies, frameworks and processes across the Allianz Group, as well as for the development of the overall risk architecture.” He was also the founding chairman of the Chief Risk Officer Forum for global insurance companies and is chairman and executive board member of the International Finance Risk Institute in Geneva, which brings together the Chief Risk Officers of the leading 30 global financial services companies.

Aigrain noted that the Group was “very pleased” that Mumenthaler will take over operational responsibility for Life & Health Products, which is Swiss Re’s second largest business segment.

Source: Swiss Re – www.swissre.com

Topics Allianz