Swiss Re has announced changes to its Group Executive Committee, effective later this year. Kera McDonald will take on the role of Group Chief Underwriting Officer starting June 1, 2025, pending regulatory approval. McDonald is currently the Chief Underwriting Officer at Swiss Re Corporate Solutions and has been with the company since 2006.
In her new position, McDonald will focus on enhancing underwriting excellence across all business units and steering group capacity allocation. Andreas Berger, Swiss Re's Group Chief Executive Officer, expressed confidence in McDonald's abilities: "Underwriting is at the core of everything we do, and the re-establishment of this function underscores our commitment to enhancing technical excellence across all businesses."
Patrick Raaflaub, who has served as Group Chief Risk Officer since returning to Swiss Re in 2014, will retire by the end of September 2025 after a long career with the company. Raaflaub first joined Swiss Re in 1994 and held various leadership roles before leaving in 2008 to lead FINMA. Berger commented on Raaflaub's retirement: "I respect his wish to retire after such a long and rewarding career and would like to thank him for his many contributions over the past years."
Swiss Re is headquartered in Zurich and operates globally through around 70 offices. The company focuses on providing reinsurance and insurance solutions aimed at managing risks ranging from natural disasters to cybercrime.
The announcement included a cautionary note regarding forward-looking statements and emphasized that it should not be considered an offer or recommendation related to securities transactions.