Global reinsurer Swiss Re has announced the creation of a new business unit, Alternative Capital Solutions, which will cover its retrocession buying activities as well as insurance-linked securities (ILS).
The Alternative Capital Solutions team was launched on July 1 and will be led by long-time veteran Mirjam Wiget.
In her new role, Wiget will oversee and coordinate Swiss Re’s hedging strategies and the execution of Vintage and ILS transactions to optimize the reinsurer’s balance sheet.
Wiget will report to Martin Zingg, who was recently appointed head of Swiss Re’s Alternative Capital Partners (ACP) division.
Wiget first joined Swiss Re in 2011 as Senior Financial Officer after more than 15 years with the global reinsurer.
Her career with the company includes key leadership roles as Head of Group Performance Management and Co-Head of Group Strategy and Performance Management, her most recent appointment being Head of Group Strategy and FP&A in 2022.
Throughout his tenure, Wiget has been responsible for overseeing financial strategy and performance, playing a key role in the reinsurer’s integrated approach to risk and capital management.
Alternative Capital Solutions will bring together hedging and trade execution activities within traditional retrocession and ILS structures. By bringing these together, the form aims to simplify the way it protects and manages its own balance sheet.
Meanwhile, Nick Meuli, most recently head of retro hedging and execution at Swiss Re, is also understood to be leaving the company.
