He will assume the role on June 1, 2025, succeeding Frieder Knüpling, who stepped down in July 2024. The appointment comes during a period of restructuring for the global reinsurer’s life and health (L&H) segment, which has faced financial challenges in the previous financial year.
Rüede will be responsible for leading the L&H new business strategy, strengthening the in-force value, and improving the segment’s cash profile, consistent with the group’s revised L&H strategy introduced at its Investor Day.
A dual Swiss and German national, Rüede holds degrees from Ecole Polytechnique in Paris and ETH Zurich, with a background in engineering. He began his career in banking in 1999 at Bank Vontobel in Zurich, later joining CS First Boston, where he served as global co-head of equity derivatives structuring.
He transitioned into the reinsurance industry in 2013, joining Swiss Re as head of reinsurance capital management. He went on to lead Swiss Re’s global P&C structured solutions team and subsequently its alternative capital partners division, where he focused on optimizing capital structures across both P&C and L&H lines.
Thierry Léger, CEO of SCOR, said Rüede brings a combination of experience and capabilities suited to lead the continued transformation of the L&H business, improve its profitability, and enhance its cash performance.
The leadership change follows SCOR’s reported net loss of €308 million last year, adjusted to €283 million. The result was driven by underperformance in the L&H reinsurance segment, which posted a Q2 insurance service result of -€329 million.
This included a -€509 million impact from the 2024 L&H assumption review, partially offset by €143 million in gains from portfolio actions. SCOR has forecasted that the full-year L&H insurance service result will fall short of the previously anticipated €500 million.
Following Knüpling’s departure, Léger temporarily assumed oversight of the L&H division. In parallel, SCOR has been consolidating its L&H footprint in Asia-Pacific. In August 2024, the company merged its L&H Fast Growth Markets APAC and L&H Mature Markets APAC divisions into a single regional unit, SCOR L&H APAC.
Chloe Wang, who has been with SCOR since 2010 and previously led the fast growth markets division, was appointed to lead the unified APAC operations.
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