Swiss Re has officially named Amitabha Ray as the incoming CEO for its India Branch, set to assume his new role on April 1, 2024, pending regulatory clearances.

Ray will operate from Mumbai, where he will manage the branch’s activities and spearhead the property and casualty (P&C) insurance sector for Swiss Re in India.

With a 27-year tenure at the reinsurance giant, Ray’s experience spans across various global locales including Zurich, Singapore, Hong Kong, Mumbai, and Johannesburg.

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His expertise encompasses treaty underwriting, client management, facultative underwriting, and business development. Since 2018, Ray has played a key role in leading the client management team, contributing to the expansion of the non-life reinsurance business in India.

Ray succeeds Hadi Riachi, who will transition to the position of head, global underwriting center for Swiss Re Corporate Solutions.

Victor Kuk, head of P&C Reinsurance SID at Swiss Re, expressed confidence in Ray’s appointment.

“We are glad to have found a highly qualified individual to succeed Hadi in leading our India team. With Amit’s expertise and knowledge, we are confident that Swiss Re is well-positioned to strengthen our growth in India,” Kuk said.

Kuk also extended gratitude towards Hadi Riachi for his leadership and substantial contributions to the company since 2020, wishing him success in his forthcoming role.

Elsewhere for the reinsurance group, Swiss Re also recently announced plans to increase dividends as well as re-elect a member of the board to serve as its new chairman.

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