Swiss Re welcomes group chief investment officer

January 18, 2023

Swiss Re, provider of reinsurance and insurance, has appointed Velina Peneva as group chief investment officer and member of the group executive committee.

Swiss Re provides reinsurance, insurance and other forms of insurance-based risk transfer. The company’s mission is to make the world more resilient.

The appointment of Peneva will come into effect April 1, 2023. She will succeed Guido Fürer following his retirement after 25 successful years at Swiss Re.

Peneva is currently co-head client solutions & analytics in Swiss Re’s Asset Management. Previously, she headed Swiss Re’s private equity investment mandate.

Before joining Swiss Re in 2017, Velina Peneva worked for Bain & Company in the US, Australia and Switzerland, most recently as a Partner and leader for the private equity and institutional investor practices in Zurich.

Christian Mumenthaler, group chief executive officer, said, “We’re pleased that with Velina Peneva, we’ve been able to find a capable internal candidate to lead our Asset Management unit forward. Velina has a very strong track record both within and outside Swiss Re. She brings a combination of deep financial market expertise, strategic and investment skills, proven leadership capabilities and a well-established industry network.”

In November last year, Swiss Re partnered with InsurTech Jooycar in a bid to boost auto insurance telematics to benefit small and medium-sized fleets in Mexico.

The focus of this alliance, according to Jooycar, is based on the InsurTech’s entrance into the Mexican market by offering its fleet management service. Jooycar said the service, “Fleetr by Jooycar”, has been a great success in its first year of operations in the US and currently boasts over 6 thousand cars connected.

Also last year, Swiss Re partnered with Indonesia Re, to provide members with access to its analytics and risk consulting services. The insurer said the partnership will support the underwriting decisions of BPPDAN members as well as their strategic planning for risk management and pricing.