20 November 2013 Insurance

Former Swiss Re CEO becomes chairman of weather company

Stefan Lippe, the former chief executive of Swiss Re and current board member of AXA, has joined Zurich-based weather risk management specialist CelsiusPro as its chairman.

Mark Rueegg, the chief executive of CelsiusPro, has passed the position of chairman to Lippe. CelsiusPro specialises in structuring and originating weather certificates. It offers tailored solutions to hedge against financial losses due to adverse weather.

Lippe is joined on the board by Jürg Haller, the former global head of products & services for Global Wealth Management and Business Banking at UBS, who becomes a non-executive board member. Haller still acts as vice chairman of UBS Wealth Management.

CelsiusPro said the new executives’ combined knowledge in financial products and reinsurance will help enforce CelsiusPro’s position and strategy in the growing weather risk management market.

“We are happy to welcome Stefan Lippe and Jürg Haller in our board. Both bring a vast amount of experience and knowledge which will be important to us to further increase our corporate footprint and strengthen our strategy. I look forward to a successful collaboration,” said Rüegg.

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