Swiss Re veteran joins board of Canadian insurer to support growth

Canada-based multi-channel insurance company Definity Financial Corporation has appointed a long-serving Swiss Re leader to its board of directors.

Edouard Schmid (pictured) spent 30 years at Swiss Re, most recently as group chief underwriting officer and a member of the group executive committee from 2017 to 2020, as well as chairman of the Swiss Re Institute from 2019 to 2020.

Prior to that, Schmid held a range of leadership roles at Swiss Re, including head of catastrophe perils and retrocession, chief underwriter property and specialty Asia, head of property and casualty risk and actuarial management, chief risk officer Corporate Solutions, and head property and specialty reinsurance.

Schmid is also a director of Britam Holdings and Britam General Insurance in Kenya, as well as New China Life Insurance Company.

Schmid was designated as a nominee for Definity's board by Swiss Re Investments Holding Company, part of the Swiss Re Group, pursuant to its governance agreement with Definity. Swiss Re Investments Holding Company holds approximately 9.9 percent percent of Definity's common shares.

John Bowey, chairman of Definity board, said: "Edouard brings significant additional industry and operational expertise to the board of Definity. He will add to our board's strategic leadership capabilities and his deep insurance knowledge will provide valuable insights as we move forward."

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