Swiss Re has announced that Sergio P. Ermotti will step down as Chairman of the Board of Directors on April 30, after completing the agreed handover period, to fully focus on his role at UBS. 

Jacques de Vaucleroy, Vice Chairman and Lead Independent Director will chair the Board in the interim. The search is underway for Ermotti’s successor.

"It has been a great honour for me to chair Swiss Re over the past two years, and I wish to thank the Board of Directors, the Executive Committee and all employees for their commitment and support. Swiss Re's strategic goals are clear, and I am convinced that the company is well positioned to thrive,” said Sergio P. Ermotti.

"On behalf of the Board of Directors, I would like to thank Sergio for his leadership in the past two years and wish him every success in his new role. The search for a successor has started. I appreciate the trust placed in me to lead the transition and very much look forward to working with the Board and management in driving Swiss Re's strategy forward,” said Jacques de Vaucleroy.