The incoming chief executive officer will replace Jean-Jacques Henchoz, who is leaving the insurer.
Group Executive Committee member, Reinsurance EMEA and Regional President EMEA, Russell Higginbotham will become the Swiss Re CEO on September 1, 2018.
The previous chief executive officer made the decision to seek an opportunity outside Swiss Re.
Russell Higginbotham isn’t at all new to the insurer. Before being named as the new Swiss Re CEO, Higginbotham has been working for the firm for 24 years throughout a spectrum of different geographies and business areas.
His most recent position was as the head of the global Life & Health (L&H) Product Division. There, he played a central role in solidifying the L&H solutions offering for the insurance company. He was also pivotal in maintaining the large L&H reinsurance tractions and increasing product innovation.
The new Swiss Re CEO has previously been chief executive officer for some of the firm’s various markets.
Some of Higginbotham’s former positions include CEO of Swiss Re Australia and New Zealand, and was CEO of Swiss Re UK & Ireland. He has also previously led the Japanese and Korean L&H businesses.
Outside the company, he has held a number of additional appointments. For instance, he has been a Director of the International Underwriting Association, Director of the Association of British Insurers, and was even President of the Insurance Institute of London.
“Russell Higginbotham has a very strong track record within Swiss Re, making him the ideal candidate to continue leading the growth of our business in EMEA. Over the last few years, he has played a significant role in strengthening our L&H Products segment and improving its contribution to the Group,” said Walter B. Kielholz, Chairman of Swiss Re.
According to the insurer itself, it is very pleased with the new Swiss Re CEO appointment of Russell Higginbotham. They are happy and confident with having appointed an internal candidate with such a strong background within and outside the company, according to a report from The Financial. They feel that this is a strong and promising decision that comes with important consistency for its clients as the hiring involved an internal candidate.