Swiss Re brings new head of global cyber from AXA XL; Bundt steps aside

Zurich-based global reinsurer  Swiss Re has unveiled plans to create a central cyber underwriting team with the hiring of a cyber expert from AXA XL.

John Coletti (pictured) will join Swiss Re as head of global cyber in early October. He will help Swiss Re address the complex nature of cyber risk, including important industry issues such as ransomware and risk aggregation.

Reporting into Gregory Schiffer, head of global specialty, Coletti will be responsible for Swiss Re’s global cyber business, which includes portfolio ownership, global underwriting activities as well as cyber product development.

Coletti will join from AXA XL, where he has served as the chief underwriting officer for cyber since 2012. Swiss Re said he is a respected leader in the cyber insurance market and was one of the pioneers in this dynamic line of business.

The reinsurer's new central cyber underwriting team will assume global responsibility for Swiss Re’s underwriting and product development activities in the cyber space. By creating more dedicated cyber capabilities, Swiss Re aims to further strengthen its client offering as well as its position as a "thought leader" in the market.

Meanwhile, Maya Bundt, the current head of cyber solutions, will take on a newly created role at the Swiss Re Institute’s Cyber Centre of Competence.

Schiffer said: “With John Coletti, we have been able to attract another experienced leader in the cyber insurance market. At the same time, I would like to thank Maya Bundt for her leadership, and the innovation and successes that have already been achieved in our cyber business."

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