26 Oct 2007, David Benyon , Operational Risk & Regulation
ZURICH – Swiss Re insurance group has appointed Raj Singh as its new chief risk officer. Singh will take over by 1 January 2008 from Christian Mumenthaler, who will lead operations for its global life and health products division and serve on the executive board.
Swiss Re’s board of directors elected Singh on the recommendation of chief executive officer Jacques Aigrain.
Aigrain said: “With Raj Singh we have brought one of the global leaders in risk management as a successor of Christian Mumenthaler to Swiss Re, who became Chief Risk Officer in 2005. Raj Singh can build on the excellent work of his predecessor. With his broad international experience in the insurance and banking sector, Raj Singh will contribute to the continued development of our position as the leading risk transformer.”
Singh joins Swiss Re from rivals Allianz SE where he has been chief risk officer since 2002. Singh had responsibility for the definition of risk policies, frameworks and processes across the Allianz Group, as well as for the development of the overall risk architecture.
Singh was also founding chairman of the Chief Risk Officer Forum for global insurance companies and is chairman and executive board member of the International Finance Risk Institute in Geneva, which brings together risk executives from global financial services companies. Allianz has appointed Thomas C. Wilson to occupy the vacancy