Swiss Re group CUO quits to 'start new chapter in life'

Matthias Weber, Swiss Re's group chief underwriting officer, has taken the decision to step down. He will be replaced by Edouard Schmid currently head of property and specialty reinsurance.

Weber said that after 25 years with Swiss Re, he has decided to step down from his current role from 30 June 2017, to begin a new chapter in his life. He will be succeeded by Schmid, who has been with Swiss Re since 1991.

Walter Kielholz, chairman of Swiss Re, said: “We very much regret Matthias Weber's decision but we respect his desire to focus on his family after such a successful career. We will miss his experience and guidance as a member of the Group Executive Committee, but look forward to continuing our relationship in whatever form suits him.

“Over his long and successful career, Matthias Weber has been a champion of Swiss Re strengths: disciplined underwriting and a focus on the long-term. We wish him all the best for the future.

"Once again, due to our strong talent pipeline, we are able to fill the role with an internal candidate. Edouard Schmid, who has shown equal skill and dedication to our organisation will take over as Group Chief Underwriting Officer on 1 July 2017. He has broad underwriting experience across various lines of business, in varied markets and in both Reinsurance and Corporate Solutions. This exceptional track record makes him the ideal candidate to step into Matthias Weber's shoes."

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