Reinsurance News

Definity adds former Swiss Re Group CUO Schmid to Board

22nd December 2021 - Author: Luke Gallin

Multi-channel insurance carrier, Definity Financial Corporation, has added Edouard Schmid, formerly the Group Chief Underwriting Officer (CUO) of reinsurance giant Swiss Re, to its Board of Directors.

edi-schmid-swiss-reSwiss Re Investments Holding Company Ltd, part of the global reinsurer which nominated Schmid to the Board, holds approximately 9.9% of Definity’s common shares.

Schmid is well known in the insurance and reinsurance industry and has had a long and established career, having spent more than three decades at Swiss Re, most recently as Group CUO 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.

Previously, he held numerous leadership roles at Swiss Re, including Head of Catastrophe Perils and Retrocession, Chief Underwriting Property and Specialty Asia, Head of Property and Casualty Risk and Actuarial Management, Chief Risk Officer Corporate Solutions, and Head Property and Specialty Reinsurance.

John Bowey, Board Chair, Definity Financial Corporation, 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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