Swiss Re Announces Executive Board Changes

June 3, 2004

Swiss Re has announced two executive appointments effective as of January 1, 2005.

Christian Mumenthaler has been named as Chief Risk Officer of Swiss Re Group, succeeding Bruno Porro who will retire at the end of 2004.

Charlotte Gubler will become Head of Communication & Human Resources, succeeding Walter Anderau who will become Chairman of Swiss Re’s Centre for Global Dialogue based in Rüschlikon.

Mumenthaler will become a Member of the Executive Board and the Executive Board Committee of the Group reporting to Swiss Re’s CEO John Coomber. He will be in charge of Swiss Re’s Risk & Knowledge Division, which includes the Group’s risk, claims, reinsurance liabilities and knowledge management.

Mumenthaler joined Swiss Re in 1999 as manager in the Group’s Strategic Planning unit. Since 2000, he led several key projects, including optimizing the Group’s risk and capital base through retrocession and securitization.

Porro has been the Group’s Chief Risk Officer since 1998. He joined Swiss Re in 1978 and “was fundamental in establishing the company’s leading edge knowledge and expertise in natural catastrophes and risk management,” said the announcement. Swiss Re also expressed the company’s thanks to “Mr. Porro for his long and outstanding service to the company,” and wished him “all the best for his future.”

Gubler will also become a Member of the Executive Board of Swiss Re, reporting to Coomber. She will be in charge of the Group’s communication function, global HR and certain corporate support functions. She joined Swiss Re in 1993 as Senior Credit Risk Manager. In 1995 she established the company’s global Credit Risk Management business. In 2000 she became Executive Team Member of the Financial Services Business Group and Head Credit Solutions, a business sector of the Financial Services Business Group, in charge of all credit risk underwriting activities of Swiss Re.

Walter Anderau will become Chairman of Swiss Re’s Centre for Global Dialogue in Rüschlikon. In this role he will focus on expanding Swiss Re’s risk dialogue with its key stakeholders. He will be reporting to the Chairman and the Vice-Chairman of Swiss Re’s Board of Directors, Peter Forstmoser and Walter Kielholz.

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