Swiss Re has announced plans to split its reinsurance business into two divisions: Property & Casualty Reinsurance (P&C Re) and Life & Health Reinsurance (L&H Re).
The restructure will be effective from 3 April, subject to regulatory approvals, and each unit will have full authority over its respective underwriting and claims management processes. P&C Re will be led by Swiss Re's chief executive of reinsurance EMEA, Urs Baertschi, while Paul Murray, chief executive of reinsurance Asia Pacific, will lead L&H Re. Swiss Re said the responsibilities of the group chief underwriting officer will be reallocated to the chief underwriting officers of P&C Re and L&H Re, and to Group Risk Management. Meanwhile, the responsibilities of the regional presi...
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