Swiss Re Funds ‘Integrative Risk Management’ Chair

April 16, 2008

Swiss Re announced today that it will finance a new Chair for Integrative Risk Management at the Swiss Federal Institute of Technology Zurich (ETH Zurich). “The Chair will be established to create a world-class global risk management research and education program,” said the announcement.

Swiss Re explained that the “environment of the global risk transfer industry is evolving rapidly. Driven by several forces, especially global warming, population growth, density of assets and the increasing vulnerability of aging infrastructure, the impact of hazardous events is continuing to rise. As an ultimate risk-taker, Swiss Re is uniquely exposed to the consequences of these developments.”

To address those challenges Swiss Re has committed to providing CHF 5 million ($ 5.024 million) to the ETH Zurich Foundation over the coming six years to finance the newly created Chair. The bulletin noted that the “Chair is part of a strategic risk research initiative from ETH Zurich aimed at providing knowledge and tools for the concurrent management of technical, economic, natural, and social risks within a geographical context.

“The professorship funded by Swiss Re will act as a focal point of applied risk research, establishing a world-class global risk management education program. It will support the development of innovative collaboration schemes with governments, universities and public-private partnerships.”

Peter Forstmoser, Chairman of Swiss Re’s Board of Directors, explained that the world’s biggest reinsurer’s ” is long-term aspiration to position Switzerland as a globally recognized risk management hub. The Risk Chair will be essential in fostering integrative risk management research and education based on prevention, preparation, response, recovery, and risk transfer solutions – aiming at a more resilient society.”

Source: Swiss Re – www.swissre.com

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