Swiss Re’s Americas reinsurance CEO Isherwood to exit at end of September

Jonathan Isherwood, Swiss Re’s CEO of Americas reinsurance, will leave the company at the end of September, The Insurer can reveal.

His departure follows a streamlining of the group’s organisational structure announced in February.

In a statement confirming Isherwood’s departure, Swiss Re group CEO Christian Mumenthaler said: “Under Jonathan's leadership, we have expanded our strong market position in the Americas. On behalf of the group executive committee, I thank him for his great dedication and outstanding commitment to Swiss Re and wish him all the best in his future endeavours."

Isherwood has been at Swiss Re for 17 years, joining as part of the $6.8bn GE Insurance Solutions acquisition in 2006.

He went on to head claims, accounting and liability management for the Swiss Re Group and then worked with Swiss Re's largest clients as head of globals.

In 2020, he moved to the US and joined the group executive committee as CEO reinsurance Americas and regional president.

Isherwood’s departure follows changes announced in February that aligned Swiss Re’s organisational structure across business units and shifted away from a regional focus.

The new structure split Swiss Re’s reinsurance business into P&C and life and health.

When the structure was announced, Isherwood’s role was unclear as the streamlining removed the need for the regional presidents' roles. Isherwood remained with Swiss Re to assist with the transition across the Americas.

Later in February, Swiss Re announced the appointment of Monica Ningen as CEO of US P&C reinsurance. Shortly after that announcement The Insurer revealed that Swiss Re US P&C president Keith Wolfe would leave the company at the beginning of July to pursue opportunities outside of the business.