Swiss Re Appoints Ann Godbehere as Chief Financial Officer

December 20, 2002

Swiss Re announced that its Board of Directors has appointed Ann Godbehere as CFO, effective 1 April 2003, succeeding John H. Fitzpatrick, who’s been named to head Swiss Re’s Life & Health Business Group.

Godbehere, a Canadian, currently serves as CFO of Swiss Re’s Property & Casualty Business Group. She will also become a member of the Executive Board and the Executive Board Committee.

Peter Forstmoser, Chairman of Swiss Re’s Board of Directors commented, “Ann Godbehere has an excellent track record in financial management at Swiss Re. Her prior experience as Chief Financial Officer of both Swiss Re’s Life & Health and Property & Casualty Business Groups, makes her ideally placed to now steer the efficient management of capital and the generation of attractive returns for shareholders.”

Godbehere stated, “I am pleased to be taking up this new role and I look forward to the challenge of continuing to build Swiss Re’s financial strength, earnings and franchise value for all our stakeholders.”

She has been CFO of the P/C Business Group, since its establishment in 2001,and has overseen the creation of its global finance function and been active in implementing its organizational structure. “During this time, the development of strong financial targets and focus on a performance driven culture, has contributed to the combined ratio improvements now emerging,” said the bulletin.

Prior to her current appointment she served as CFO of Swiss Re’s Life & Health Business Group, and was closely involved in its acquisition activities. During her tenure operating revenues grew from SwF. 6.3 billion ($4.41 billion) to SwF. Fr. 10.9 billion ($7.64 billion). “She was also instrumental in introducing embedded values across the life and health business, a measure that is now an established part of Swiss Re’s annual corporate disclosure,” said the announcement.

She “started her career in 1976 with Sun Life of Canada, joining Mercantile & General Reinsurance Group in 1981,” said the announcement. “Swiss Re bought M&G in 1996 and Ann Godbehere, became Chief Financial Officer of Swiss Re Life & Health, North America. In 1997 she was made Chief Executive Officer of Swiss Re Life & Health, Canada. She moved to London as Chief Financial Officer of Swiss Re Life & Health Division in 1998 and joined Property & Casualty Business Group, based out of Zurich, as Chief Financial Officer on its establishment in 2001.”

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