AXA director, former Swiss Re leader passes away

Multiple reports point to coronavirus complications as the cause

AXA director, former Swiss Re leader passes away

Insurance News

By Terry Gangcuangco

Stefan Lippe (pictured), who was group chief executive at Swiss Re until 2012 before he moved to AXA to serve as a director, has passed away.

“Our heartfelt condolences and thoughts go out to his family at this difficult time,” said Swiss Re in a statement. “Stefan Lippe was appointed group CEO of Swiss Re in spring 2009. This was a particularly challenging time for the company.

“In the aftermath of the global financial crisis, he led Swiss Re out of the crisis to re-establish its capital strength and to consolidate trust with its clients around the globe. He accomplished this task with great dedication and success.”

Lippe became part of the Swiss Re family in 1983, via the group’s subsidiary Bavarian Re in Munich.

“Swiss Re is greatly indebted to Stefan Lippe for almost three decades of continued commitment and dedicated service to the company,” commented Swiss Re chair Walter B. Kielholz. Meanwhile group CEO Christian Mumenthaler described Lippe as the best underwriter he’s ever met, asserting: “He truly had a sixth sense for risk.”

Over at AXA, the Paris-headquartered insurer called the industry stalwart “a recognised figure in the insurance world” while announcing Lippe’s death “with profound sadness” and extending deepest condolences to his family.

“Stefan Lippe was a courteous and warm man,” stated AXA. “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.

“On behalf of the board of directors and the management committee of AXA, Denis Duverne and Thomas Buberl express their gratitude and their great appreciation for his many instrumental and decisive contributions to the group during his eight years on the board.”

Multiple reports cited coronavirus complications as the cause of Lippe’s death, but neither Swiss Re nor AXA referred to COVID-19 in their respective releases.

UPDATE: In a LinkedIn post, Mumenthaler confirmed that Lippe passed away due to complications from the disease.

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