Swiss Re unveils former GE exec as new HR head

Swiss Re will proposed a stable dividend at its upcoming AGM and also revealed the appointment of a new chief human resources officer.

The reinsurer has published its 2020 Annual Report, Sustainability Report and the agenda for the upcoming Annual General Meeting of shareholders (AGM) on 16 April 2021, which will be held in a virtual format due to COVID-related restrictions.

The company revealed that its Group Swiss Solvency Test (SST) ratio was at 215 percent, within the new target range of 200–250 percent. It said that this combined with its positive outlook allows it to propose a stable dividend of Sfr5.90 per share at the upcoming AGM.

Swiss Re’s Chairman Walter Kielholz said: “In 2020, Swiss Re again proved that its business model is robust and that it can fulfil its role as shock absorber for the insurance industry in times of crisis. The company has supported its clients through the extraordinary events of the COVID-19 pandemic, all the while maintaining a very strong capital position. Swiss Re’s businesses delivered strong underlying results, highlighting their long-term earning potential, and market trends point to an optimistic outlook for 2021 and beyond. These factors allow the Board of Directors to confidently propose an attractive dividend to shareholders.”

It also said that Cathy Desquesses will succeed Nigel Fretwell as chief human resources officer and member of the group executive committee, effective 1 July 2021. Fretwell has decided to retire.

Desquesses has been the chief people officer and member of the executive committee at Sodexo since July 2018. Prior to that she had a 20-year career at GE, working in various senior HR positions around the world.

Kielholz said: “On behalf of the Swiss Re Board of Directors, I would like to thank Nigel Fretwell for his contribution to the Group over the past eight years and wish him all the best in retirement. We are pleased to have found an ideal successor in Cathy Desquesses to continue championing the topics of employee engagement, global talent pipeline, inclusion and diversity.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.