The departure of Christian Mumenthaler as CEO of Swiss Re has led to a significant shift within the company. After years of disappointment with business figures, Mumenthaler delivered the promised net profit of $3 billion for 2023 before his departure in July. His successor, Andreas Berger, has been credited with turning around the once troubled Corporate Solutions (Corso) business unit, where he served as head since March 2019.
Berger’s success with Corso has made him a beacon of hope for Swiss Re as a whole. The appointment of Berger as CEO is seen as a move by the board of directors to prevent the company from slipping back into poor performance after the successful year of 2023. Berger’s approach to Corso, which included disciplined risk assumption, cost management, and sustained price increases, is expected to make the entire Swiss Re group more efficient and profitable.
Berger’s track record at Corso has shown his ability to implement necessary changes and achieve results. After a challenging year in 2019, where he realigned the division and made it profitable, Corso under Berger’s leadership generated significant profits and improved its combined ratio. In his approach to leading Corso, Berger emphasized the importance of being disciplined and focused on the implementation of changes.
Berger’s international background and experience in the insurance industry have shaped his leadership style. As the designated CEO of Swiss Re, he is viewed as a customer-oriented doer who values teamwork and transparency. Berger’s diverse career path, which includes positions in various countries and global responsibilities, has prepared him for the challenges of leading a global reinsurance company.
Berger’s personal background has influenced his commitment to increasing resilience and closing insurance gaps. This drive to make a positive impact through his work is one of the reasons he chose to work for Swiss Re. He brings experiences with change and uncertainty due to geopolitical events and natural disasters to his new role at Swiss Re.
Overall, Andreas Berger’s appointment as CEO represents a new chapter for Swiss Re with high expectations for his leadership and vision to continue the company’s success and growth.