Swiss Re has announced leadership changes within its Group Executive Committee. Kera McDonald, currently Chief Underwriting Officer of Swiss Re Corporate Solutions, will become Group Chief Underwriting Officer starting 1 June 2025, pending regulatory approval. The company also stated that Patrick Raaflaub, Group Chief Risk Officer, will retire by the end of September 2025 after a combined 25 years with Swiss Re.
Kera McDonald brings over three decades of experience to her new position and has been with Swiss Re since 2006 in various specialist and leadership roles. She joined the Corporate Solutions Executive Committee in July 2019 and became Chief Underwriting Officer for that business unit in 2022. Her academic background includes a Bachelor's degree in Mathematics and Economics from Cornell University and an MBA in International Business from the University of Washington.
In her upcoming role as Group Chief Underwriting Officer, McDonald will oversee underwriting across all business units, guide capacity allocation for the group, set mid-term underwriting goals, and approve large or complex transactions.
Swiss Re's Group CEO Andreas Berger commented: "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. As the Chief Underwriting Officer for Corporate Solutions, Kera has been instrumental in improving costing accuracy and significantly enhancing portfolio management discipline and processes. I'm very pleased to welcome Kera to Swiss Re's Group Executive Committee in this new role."
Patrick Raaflaub first joined Swiss Re in 1994 and held several senior positions related to finance and capital management before leaving in 2008 to lead FINMA as CEO. He returned to Swiss Re in 2014 as Group Chief Risk Officer.
Andreas Berger said: "It has been a privilege to serve on the Group Executive Committee with Patrick over the past years. As the Group Chief Risk Officer, he has successfully driven an integrated approach to managing current and emerging risks across the company. 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 and his commitment to stay with the company until we have appointed his successor. On behalf of the entire executive team, I would like to wish him all the best for the future."