Lize-Mari Barnes (Swiss Re): From fewer than 10 to nearly 70 people in Luxembourg, it is a growth story.
Lize-Mari Barnes, CEO Swiss Re Luxembourg, outlines the firm’s rapid growth and its strategic focus on innovation, resilience, and client-centric reinsurance solutions amid global uncertainties.
Can you present Swiss Re in a few words?
Swiss Re is a leading global reinsurer with headquarters in Zurich, Switzerland. For our European businesses, Luxembourg serves as the main legal headquarter. Through work with our clients, Swiss Re applies deep knowledge, intelligent data analysis and capital strength to anticipate and manage risk.We run the legal entities from Luxembourg for our reinsurance and insurance business units, as well as the B2B2C carriers (SRE.SRI, iptiQ) with branches over Europe (SRE/SRI) and Asia (for SRI). We are regulated by the CAA. In 2018, we further expanded by creating SRCME, an investment firm focussed on weather derivatives and insurance-linked securities activities, a niche market and it was new for Luxembourg and the CSSF. Our legal entities and activities expanded significantly from 2007 until now and our number of employees increased from less than 10 to more than 70 across various functions. In Luxembourg, we have a very diverse office, with more than 20 nationalities represented, serving our global company and operations. Swiss Re also has investment funds based in Luxembourg. With 15 billion in gross written premiums and a net income contribution of approximatively 500 million, Swiss Re remains a significant and important player in the Luxembourg re/insurance industry.
“Our vision is to make the world more resilient."
How are your clients’ needs changing and how are you adapting to them?
The key topics for the insurance industry remain largely unchanged from last year, but the challenges have intensified, leading to higher demand. Faced with elevated natural catastrophe risks, economic uncertainty and geopolitical instability, reinsurance is the natural way for insurers to protect themselves from outsized losses. We are ready to support our clients with our capital, expertise and solutions. What insurers, corporates and the public sector need from reinsurers goes beyond the core function of providing risk capacity. Modelling expertise to stay on top of the changing risk landscape, up-to-date assessments and management of exposures are becoming even more essential. Beyond risk transfer, insurers are turning to reinsurers for value-adding insights and solutions that can help them better understand and mitigate risk, unlock innovation and improve performance. Capital and volatility management are further immediate concerns for insurers, especially given the current economic uncertainty. We are a partner for our clients' progress - a predictable shock absorber, a springboard for new ideas and a compass to guide decisions on the best path forward.
What is your company’s vision for the next 5 years?
Our vision is to "make the world more resilient" and that will continue. Our environment, as explained above, clearly echoes this sentiment and the important role reinsurance plays in the macroeconomic ecosystem. Underwriting is at the heart of what we do and our efforts in the areas of data and technology, people and talent as well as culture focus on advancing our business. As a company, we are determined to deliver on our financial targets and we remain committed to our capital management priorities. Swiss Re Group is globally diversified and maintains a strong capital position. Our strategy for the coming years evolves around the following themes: Sharpen our data and technology capabilities, focus on bottom-line growth and shift our approach to becoming even more business oriented and less academic. People, culture and technology are core in driving this.
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FACTS & FIGURES
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Birthday: 17/12/1980
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Place of birth: Pretoria, South Africa
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Nationality: South African
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Children: 3
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Languages: English
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Hobbies: Tennis, gym, travelling and exploring, good food and wine
MY FAVOURITE (I am in general not a big favourites person as my likes and interests changes over time and with the cycles of life)
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Cities: I love International travel and variety of places with strong culture and/or architecture, so no surprise to flag cities such as Tokyo, Rome
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Restaurants: I am a foodie and love a variety of food and wine. For the moment Ma Langue Sourit is my favourtire in Lux
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Places: Beaches and scenery is my go to recharge, therefore no surprise to list Maldives and the likes
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Books: Eat, Pray, love is an old time favourite, I am a romantic sucker and just any life long learning on various themes, although I must admit I cant remember when was the last time I completed a full hardcover book end to end 😊
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Music: All types of music, depending on my mood and place, excluding heavy metal and selective Opera is not quite me
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Artists: Again hard to choose favourites, but female artists like Madonna or Marilyn Monroe sticks with me
POSITION :
Global CFO P&C Reinsurance Swiss Re and CEO Luxembourg
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OTHERS :
Board member on various Boards for Swiss Re Group, including Swiss Re Europe S.A, Swiss Re International, Swiss Re Lux Funds and Chairwomen for Swiss Re Capital Markets Europe
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