CEO Stefan Lippe promises return to basics won’t stifle firm
Swiss Re’s chief executive Stefan Lippe’s has promised that the reinsurer won’t be boring despite its back-t0-basics policy to deal with its financial crisis, the FT reports
“We’ve stressed ‘back to basics’,” says Lippe. “But that doesn’t mean going back to the stone age. Swiss Re was never boring. We were always an innovator. That won’t change.
“I’m someone who has learnt reinsurance from the basics,” says Lippe. “I’ve been either in marketing or in risk oversight, with my experience divided about equally between the two. It’s a big advantage to know the core business.”
In February the company warned it would lose SFr1bn ($928m, €658m, £569m) in 2008. In the end, it was SFr864m.
