Lippe’s replacement to be announced soon

Swiss Re chief executive Stefan Lippe will step down in 2012.

A successor will be announced soon.

Swiss Re chairman of the board of directors Walter Kielholz said: “The board of directors very much regrets Stefan Lippe’s decision to retire early after almost three decades at Swiss Re. Since becoming CEO in 2009, he has led Swiss Re through challenging times, during which we were able to turn around the company.

“We are initiating the process to select a successor and will ensure a smooth transition.”

Lippe said: “Three years ago I took on the challenge of leading the company through turbulent times as CEO. Today we can say proudly that we have delivered on all of the ambitious
targets that we set out at that time.

“Now that the turnaround has been achieved, a new era begins for Swiss Re with a new corporate structure and refined strategy. This was the right moment for me to choose to inform the board
about my intention to retire early. This lead time should be sufficient to allow for a smooth transition.”