Swiss Re revives group CUO role with McDonald
Added details of personnel changes and restructure at Swiss Re Corporate Solutions
By Rebecca Delaney
Feb 27 - (The Insurer) - Swiss Re announced on Thursday that Kera McDonald will serve as group chief underwriting officer with effect from June 1.
McDonald will be responsible for underwriting performance across all business units, steering group capacity allocation, defining mid-term underwriting ambitions and approving large or complex transactions.
The role was previously held by Thierry Léger from 2020 until early 2023, when he departed to join rival Scor as CEO.
McDonald currently serves as CUO of Swiss Re Corporate Solutions (CorSo), a role she assumed in 2022.
She will be succeeded in his role by Katie McGrath, currently North America CEO at Swiss Re CorSo.
McGrath will continue to be based in New York, reporting to Ivan Gonzalez, CEO of Swiss Re CorSo.
Swiss Re CorSo also announced that it has formed a market units structure across its geographic regions.
The UK and Ireland market unit will be led by London-based Nina Arquint. In Europe, Bruno Mostermans will oversee France, Tina Baacke will head up Germany and Austria, and Michael Rüsch will oversee Switzerland, Benelux, Italy and the Nordics.
Based in Madrid, Angelo Colombo will oversee the market unit encompassing Ibero-America, the Middle East and Africa.
Adrian Hall will led Swiss Re CorCo's US market unit, with James Gasco leading Canada.
Asia (including Greater China, Japan and Southeast Asia) will be led by Singapore-based Robert Hunziker, with Kevin Bates heading up Australia and New Zealand.
This new structure is expected to be effective June 1, 2025, with the market unit heads reporting to Gonzalez.
Separately, group chief risk officer Patrick Raaflaub is set to retire by the end of September 2025.
Swiss Re said the succession process is under way, with a replacement to be announced "in due course".
Raaflaub first joined Swiss Re in 1994 and held a number of leadership roles across finance and capital management.
He left the company in 2008 to become CEO of the Swiss Financial Market Supervisory Authority, before returning in 2014 as group chief risk officer and member of the group executive committee.
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