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Swiss Re restructures U.S. property/casualty markets

Swiss Re restructures U.S. property/casualty markets

Swiss Re America Holding Corp. is restructuring its U.S. property/casualty markets and has named three people to oversee the markets following the departure of William E. Donnell last year.

Keith Wolfe will become president of Swiss Reinsurance America Corp. effective May 2, Armonk, New York-based Swiss Re said Monday. Mr. Wolfe will continue to lead the company's regional and national team in addition to his new responsibilities, Swiss Re said.

In addition, Seth Ruff will become president of U.S. property/casualty for large clients, also effective May 2. Mr. Ruff will lead the divisional client executives team, which is responsible for the overall relationships with large clients.

In addition, he will lead Swiss Re's client market underwriters, who handle the brokered treaty business for both large and global clients, and will assume the role of president of Swiss Re Underwriters Agency Inc.

Mr. Ruff most recently was head of property/casualty structured solutions for the U.S. broker, Canada and Latin America markets.

Also, Ute Michaelsen has been named head of property/casualty facultative and will lead all facultative teams in the U.S. and Canada, also effective May 2. She served most recently as broker executive for Swiss Re Underwriters Agency Inc.

Messrs. Wolfe and Ruff will be based in Armonk, while Ms. Michaelsen will split her time between Armonk and New York.

The restructuring and appointments follow last year's departure of Mr. Donnell as president of U.S. property/casualty reinsurance at Swiss Re America. Mr. Donnell left Swiss Re to become president and CEO of Boca Raton, Florida-based National Council on Compensation Insurance Inc.

“Bill Donnell's departure … provided an opportunity to review our structure in the U.S.,” said Eric Smith, president and CEO of Swiss Re Americas, said in a statement announcing the appointments. “Our new structure will move decision-making closer to the markets to better serve our clients' needs.”

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