SCOR has appointed Philipp Rüede as the new CEO of its Life & Health (L&H) division, effective 1 June 2025.
Rüede, who will also join the executive committee, succeeds Frieder Knüpling, who stepped down in July 2024.
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Rüede’s immediate focus will be on driving the division’s new business strategy, safeguarding and maximising in-force value, and enhancing the cash profile in alignment with the strategy unveiled at the December 2024 Investor Day.
He brings more than 20 years of experience in banking and reinsurance to his role as SCOR L&H CEO.
His career began in 1999 at Bank Vontobel in Zurich, within the equity derivatives structuring and trading department.
He then served as global co-head of equity derivatives structuring at CS First Boston from 2000 to 2010, working across Zurich and Hong Kong.
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By GlobalDataIn 2010, Rüede transitioned to a partner position at Arbillon Capital, a Swiss electronic trading firm.
His entry into the reinsurance industry came in 2013, when he joined Swiss Re in Zurich as head of Reinsurance Capital Management.
There, he was responsible for enhancing capital efficiency across the group.
His tenure at Swiss Re included leading a team of more than 75 professionals as global head of P&C (property and casualty) Structured Solutions from 2015 to 2019.
Rüede was appointed head of the Alternative Capital Partners team in 2019, where he worked on managing risk limits and strengthening the company’s capital structure across both P&C and L&H reinsurance lines.
SCOR CEO Thierry Léger said: “Philipp will bring very valuable and complementary skills to SCOR. With his extensive experience and wide-ranging expertise, Philipp has all the qualities required to continue the transformation of our L&H business, restore its profitability and improve its cash profile. The whole Executive Committee joins me in welcoming Philipp and wishing him every success in his new responsibilities.”
SCOR reported a net income of €233m ($265.35m) for the fourth quarter of 2024 (Q4 2024), a 43.2% increase compared with €162m in Q4 2023.
