The outgoing CEO of Swiss Re, Christian Mumenthaler, has been a beacon of hope for the company. 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. Berger has been heading the Corporate Solutions (Corso) business unit at Swiss Re since 2019 and is 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 and experience in various roles within the insurance industry position 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.
Mumenthaler stepped down from his position after successfully delivering $3 billion net profit target for 2023.
Berger’s appointment as CEO follows his successful track record in turning around struggling business units at Swiss Re.
Berger’s leadership style is characterized by disciplined risk-taking and cost management that resulted in significant improvements within the Corso unit.
Swiss Re’s reputation for being sedate may have contributed to its challenges in managing risks but Berger is seen as someone who can lead with action rather than hesitation.
Berger’s focus on team building, transparency, and clear communication make him well-suited to lead Swiss Re into a new era of growth and success.
