Swiss Re creates Souidi-led global fac unit as Kuppersmith promoted in North America

By Michael Loney

April 3 - (The Insurer) - Swiss Re's P&C reinsurance business unit has created a new global facultative market unit that will be led by Sanaa Souidi.

The reinsurer said that the aim of the new unit is to enhance client experience with faster more agile decision making and leveraging talent and capabilities at a global level.

Before her promotion to head of global fac, Souidi had served as head of P&C fac for EMEA since April 2023. She has been with the reinsurer for eight years, having joined from PartnerRe in 2026.

Along with the creation of the new unit, Blake Kuppersmith has been promoted to head of North America P&C fac. He was previously head of fac property for North America, and has been with Swiss Re for almost 22 years.

The Insurer was first to report in January that Ute Michaelsen was retiring as head of facultative for North America at Swiss Re after 28 years. She stood down from the role at the end of March.

“We are excited to announce these strategic changes and appointments to the senior leadership team within our new consolidated facultative market unit set up,” said Gianfranco Lot, chief underwriting officer for P&C reinsurance at Swiss Re in a statement provided to The Insurer.

“It is great to be able to promote strong leaders from within the team and I am confident Sanaa and Blake will be able to further strengthen Swiss Re's leading position in facultative reinsurance as we navigate the next phase of growth and innovation,” he added.