Swiss Re and AXA have announced that Stefan LIPPE, Swiss Re's Group CEO from 2009 to 2012 and AXA'S Director and head of the Audit Committee after that, passed away earlier this week, at 65, of complications from Covid-19.

Stefan Lippe joined Swiss Re through its subsidiary, Bavarian Re, in Munich in autumn 1983, following his graduation in mathematics and a Ph.D. in economics from the University of Mannheim. In every function in which he subsequently served he brought to bear his astute sense for figures and a deep understanding of actuarial science, so crucial for the re/insurance business.

In 1986 he became head of Bavarian Re's underwriting department, non-proportional business. In 1988 he was appointed a deputy member of the Management Board. In 1991 he took on overall responsibility for the activities of the company in German-speaking countries and was also appointed as full member of the Management Board.

In 1993, at the age of 38 years, Stefan Lippe was appointed Chairman of the Executive Board of Bavarian Re. In 1995 he also joined the extended Executive Board of Swiss Re as head of the Bavarian Re Group.

In 2001, when he became head of Swiss Re's Property & Casualty Business Unit, Stefan Lippe moved to Switzerland. At that time, he was also elected to the Executive Board of Swiss Re.

In September 2008 he was appointed Chief Operating Officer and Deputy CEO, leading the company through particularly challenging times, in the aftermath of the global financial crisis. Stefan Lippe retired from Swiss Re in 2012.

After retiring from Swiss Re, he co-founded Acqupart Holding AG, where he was Vice Chairman of the Board of Directors, and Acqufin AG. He also co-founded Paperless Inc., now yes.com AG, where he was Chairman of the Board of Directors. He was also Chairman of the Board of Directors of CelsiusPro AG.

Stefan Lippe became an AXA Director in 2012 and Chairman of the AXA Audit Committee in 2013.
"Swiss Re is deeply saddened by the news that Stefan Lippe, Group CEO from 2009 to 2012, passed away earlier this week. Our heartfelt condolences and thoughts go out to his family at this difficult time," the Swiss Re stated. Remembering Stefan Lippe, Swiss Re Group CEO Christian MUMENTHALER says: "He truly had a sixth sense for risk and was no doubt the best underwriter I ever met!" Remembering Stefan Lippe, Swiss Re Chairman Walter B. KIELHOLZ said: "Swiss Re is greatly indebted to Stefan Lippe for almost three decades of continued commitment and dedicated service to the company."

"Stefan Lippe was a courteous and warm man. His fellow Board members and the AXA employees who had the privilege of knowing him will always remember his smile and rigor as a mathematician," AXA stated. On behalf of the Board of Directors and the Management Committee of AXA, Denis DUVERNE and Thomas BUBERL expressed their gratitude and their great appreciation for his many instrumental and decisive contributions to the Group during his 8 years on the Board. They extend their deepest condolences to his family.
Sources: swissre.com, axa.com