Swiss Re names Canada CEO and president

Swiss Re has announced that Monica Ningen (pictured right) will assume the role of CEO of US P&C Reinsurance starting July 1, 2023, with Jolee Crosby (pictured left) named as Swiss Re Canada & English Caribbean CEO.

Ningen will lead a team of client managers, claims experts and underwriters within the company. Ningen has spent five years leading Swiss Re’s operations in Canada and the English Caribbean.

With over three decades of experience in the industry, Ningen joined Swiss Re in 2006 around the time the company acquired GE Insurance Solutions, holding several leadership roles including head of property underwriting, US and Canada.

Crosby will assume Ningen’s former position managing the company’s property and casualty and life and health businesses for the Canadian and English Caribbean regions. Crosby will oversee a roster of teams managing claims, client and broker relations, as well as underwriting.

Ningen will take over as CEO midway through the year to ensure a smooth transition between positions. Both roles are subject to regulatory approval.

Swiss Re recently reported a net income of $472 million for 2022, a drop from $1.4 billion from the previous fiscal year. The company has attributed the decline to the impacts of an economic recession on actual and expected claims in the property and casualty businesses, mark-to-market impacts on listed equity investments and large natural catastrophe claims above expectations.