Swiss Re unveiled a new leadership structure, including a new chief risk officer and chief operating officer, designed to strengthen the company's core capabilities and market presence.

The global reinsurer said the new structure will focus on the key areas of reinsurance, corporate solutions and admin re.

Admin re, Swiss Re said, accepts closed blocks of in-force life and health insurance business either through acquisition or reinsurance, "typically assuming the responsibility to administer the underlying policies."

Corporate solutions is the new name for all of Swiss Re's insurance-related offerings.

Swiss Re said the three key units will now be represented by dedicated executive committee members.

As part of the management shakeup, Raj Singh, current chief risk officer, will leave Swiss Re for personal reasons and will be replaced by David Cole. Cole will be a member of the executive committee and will join Swiss Re on Nov. 1.

In 2006, he was appointed head of group risk management for ABN AMRO Bank and was subsequently named chief financial officer and chief risk officer in 2008.

Agostino Galvagni, who was Swiss Re's chief operating officer, is now CEO, corporate solutions effective Oct. 1. He remains a member of the executive committee.

The newly created CEO, corporate solutions position "underpins the strategic relevance of corporate solutions business to Swiss Re and the need to drive dedicated initiatives with heightened focus and authority," Swiss Re said.

David Blumer, chief investment officer and member of the executive committee, will, in addition to his current role, assume responsibility for admin re effective Oct. 1.

Christian Mumenthaler, currently head of the life/health division, has been appointed chief marketing officer, reinsurance, and member of the executive committee effective Jan. 1, 2011. In the core reinsurance business, Swiss Re said it aims to outperform the market based on its acknowledged underwriting capabilities, which in the area of marketing require superior client focus and an advanced service model.

Thomas Wellauer is the new chief operating officer and member of the executive committee effective Oct. 1. Most recently he served as head of corporate affairs and member of the executive committee at Novartis.

Michel Li?s, currently chief marketing officer and member of the executive committee, will, as of Jan. 1, assume a newly created position as chairman global partnerships, reporting directly to the CEO. He will establish a network of client market advisors within Swiss Re to strengthen relationships in the public sector, government and non-governmental organizations areas, Swiss Re said.