SWISS Re's Board of Directors announces that Patrick RAAFLAUB, the former CEO of Switzerland's financial market supervisory authority FINMA, will join SWISS Re and be appointed as member of the Group Executive Committee and new Group Chief Risk Officer (CRO) starting September 1st, 2014.

Walter B. KIELHOLZ, Chairman of the Board of Directors of Swiss Re Ltd, stated: "I am very pleased that we could attract a person of such caliber as Patrick RAAFLAUB as our new Group CRO. He was instrumental in turning FINMA into an effective regulatory body amidst the biggest financial crisis since the 1930s. Of course, he knows Swiss Re very well from his previous work with us, and now with additional experience gained in the public sector, he is very well equipped to navigate Swiss Re through the risk and regulatory challenges ahead."

Patrick RAAFLAUB was the CEO of FINMA between 2009 and 2014. Previously he had a distinguished career with SWISS Re, being, among others, Chief Financial Officer of SWISS Re Italia, Regional Chief Financial Officer Europe and Asia, and finally Head of Group Capital Management. Patrick RAAFLAUB joined SWISS Re in 1994 after concluding his PhD at the University of St. Gallen, Switzerland. He was born in 1965 and is a Swiss citizen.