Swiss Re P&C reinsurance CEO Baertschi to relocate to New York

By Scott Vincent

April 11 - (The Insurer) - Swiss Re’s P&C reinsurance CEO Urs Baertschi is to relocate to the U.S. to oversee the division from New York, the company said at its annual general meeting on Friday.

Baertschi has served as CEO of P&C reinsurance for two years, and until now was based in Zurich.

However, group CEO Andreas Berger announced in his address at the AGM that Baertschi is to relocate amid what he described as “one of the greatest periods of upheaval since the end of the Cold War”.

“This turbulence is impacting our markets. Core pillars of the previous world economic order, such as free trade, are coming under fire. So far, the free flow of capital, which is central to our business, has not been affected by these upheavals, at least not more than in the past,” he said.

“However, we will be monitoring the situation very closely and will manage any volatility, especially in the U.S., which is our largest market.”

According to his LinkedIn profile, Baertschi was previously based in the U.S. from the start of his career with Swiss Re in 2008 until 2019, when he became CEO of reinsurance for the EMEA region.

Swiss Re's shareholders approved all proposals at Friday's AGM, including a $7.35 per share ordinary dividend and the election of Morten Hübbe and George Quinn as new board members.