Former Swiss Re CEO Stefan Lippe dies

Stefan Lippe, CEO of Swiss Re Ltd. from 2009 to 2012 and a veteran executive who worked at the reinsurer for more than 30 years, has died of complications from COVID-19, according to Swiss press reports. He was 65.

Mr. Lippe led Swiss Re out of the 2008 global financial crisis, reestablishing its position as the reinsurer received a $3 billion injection of capital from Warren Buffett.

After retiring from Swiss Re in 2012, Mr. Lippe joined the board of French insurer Axa SA and was active in the startup world as a chairman of open banking platform yes.com AG and Swiss climate insurtech firm CelsiusPro AG.

After studying math and economics at school, Mr. Lippe joined Bavarian Re, a subsidiary of the Swiss Re Group, in 1983 on a business analysis project and rose through the underwriting ranks. He was appointed a member of the Board of Bavarian Re in 1991 and became a member of Swiss Re’s executive board in 1995.

In 2001, Mr. Lippe was named head of the property/casualty business group and member of Swiss Re’s executive committee.

In a statement, Swiss Re said: “We're deeply saddened by the death of Stefan Lippe, a Swiss Re veteran of almost three decades and the CEO from 2009 until 2012. Our heartfelt condolences and thoughts go out to his family at this difficult time.”

Group CEO Christian Mumenthaler said: “He truly had a sixth sense for risk and was no doubt the best underwriter I ever met.”