Swiss reinsurer and Munich Re subsidiary NewRe, has announced Paul Norton has been voted onto the company’s Board of Directors.
Subject to FINMA approval, Norton is to replace René Schnieper, who has stepped down from the function after six years on the Board.
“Bidding farewell to René Schnieper is no easy feat for NewRe,” the Board’s President, Claudia Hasse, who spoke on behalf of the Board of Directors, commented.
“His sharp eye for detail, dedication and sound expertise concerning the Swiss insurance landscape will be sorely missed. We therefore sincerely thank him for his enduring professionalism and outstanding services to this Board and to the company as a whole.”
NewRe has expressed its excitement about Norton’s new appointment and is looking forward to benefitting from his broad industry experience and financial guidance.
Norton has more than 30 years of experience in the insurance industry, in Switzerland as well as the UK where he commenced his career at Price Waterhouse (now PwC).
Following his time at PwC he spent nearly six years at Zurich Financial Services in several roles, finally holding the position of Group Head of External Reporting.
He was also the Head of Corporate Development and Capital Management at the Winterthur Group, before joining Helvetia Insurance as its Group CFO in 2007.
As CFO he was responsible for all aspects of financial management of the Helvetia Group including reporting, controlling, tax, investor relations, risk management and capital management.
Hasse added: “We are fortunate and very pleased to welcome Mr. Norton on our Board. We are looking forward to his contribution to our cooperative body. We are convinced that his solid business acumen and financial leadership skills will serve as a perfect complement to the set-up of the NewRe Board.”
