Exclusive: Swiss Re revamps public sector unit, Blattner-Hoyle to succeed Scotti as head

By Chris Munro

March 4 - (The Insurer) - Swiss Re is making a series of changes to its public sector solutions unit with current head Veronica Scotti leaving the company to be succeeded by Marilyn Blattner-Hoyle, while Ivo Menzinger, Lubomir Varbanov and Rubem Hofliger are also departing the business.

The reinsurer had long worked with governments, multilateral organisations and other public sector entities before formalising its play in the segment with the formation of the PSS unit in 2018.

A Swiss Re spokesperson confirmed the departure of Scotti, who serves as chairperson for PSS, and Blattner-Hoyle’s appointment as her successor.

The spokesperson also confirmed that Menzinger, Varbanov and Hofliger are leaving the firm.

“Swiss Re is simplifying the organisational set-up of its public sector solutions business to match the set-up in other areas of the organisation and meet the future demands of our clients,” the reinsurer said in a statement to The Insurer.

“The service we provide to PSS clients and brokers will remain unchanged. We stay committed to this business and addressing the biggest risk-related challenges of the public sector.”

Sources familiar with the situation said that from the beginning of April, the PSS unit will discontinue its current regional structure. The seven PSS market unit heads and the head of multinational development banks will report to Blattner-Hoyle.

With the updated set-up, the PSS unit will focus on new business origination.

Scotti, who also holds the title of group managing director, joined the business in 1999 following Swiss Re’s acquisition of boutique investment bank Fox-Pitt Kelton.

During her time with the reinsurer, Scotti has held various reinsurance client-facing roles.

Blattner-Hoyle will assume the head of PSS role from April 1.

She joined Swiss Re in 2021 and currently serves as global head of the reinsurer’s trade finance, trade credit and working capital solutions unit within Swiss Re Corporate Solutions (CorSo). She is also vice-chair of the International Chamber of Commerce global banking commission.

Prior to Swiss Re, Blattner-Hoyle was global head of trade finance at AIG. Before that she worked as a corporate lawyer and spent time in the international banking and finance practice for global law firm Hogan Lovells.

Menzinger, who is based in Zurich, currently serves as managing director for public sector business across EMEA. He also leads the reinsurer’s development of new public sector and micro insurance products globally.

According to his LinkedIn profile, Menzinger joined Swiss Re in 1998.

Singapore-based Varbanov is currently managing director and PSS head for Asia Pacific and multilateral development banks, a role in which he oversees staff based in Australia, China, India, Japan, Singapore and Switzerland.

He joined Swiss Re in May 2022 after almost 20 years with the International Finance Corporation, latterly as head of new business, infrastructure for Asia Pacific.

Hofliger joined Swiss Re in 2013 and currently serves as managing director and head public sector solutions Americas, based in Washington D.C.

In that role, Hofliger manages a team responsible for supporting governments in building risk management strategies across North America, Latin America and the Caribbean.

Before joining Swiss Re, Hofliger was a senior policy adviser for the World Bank on post-disaster budget execution and insurance for country clients.

LATEST SENIOR PERSONNEL CHANGES

The moves are the latest senior personnel changes made by Swiss Re in recent weeks.

In February, the reinsurer announced that Kera McDonald will serve as group chief underwriting officer from June 1.

The group CUO role was previously held by Thierry Léger from 2020 until early 2023 when he left the business to join Scor as CEO.

McDonald is currently CUO of Swiss Re CorSo, a role she assumed in 2022.

She will be succeeded in that role by Katie McGrath, currently North America CEO at 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 lead Swiss Re CorCo's U.S. market unit, with James Gasco overseeing 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.

Separately, group chief risk officer Patrick Raaflaub will retire by the end of September.