Career example of Head of underwriting unit

Stephan Rappaz
Born 1963 in Valais, Switzerland
At New Re since 2001
UK and Nordic Countries unit

Initial experience in primary insurance market

I started my career in 1983 with a leading domestic Swiss primary insurance company, after completing a three-year period of insurance training.

My main focus was on claims handling, and in that capacity I held various positions including that of loss adjuster. One of my most memorable experiences was dealing with the damage caused by the hailstorm which struck Geneva in 1986. Claims were assessed and paid on the spot.

In 1996, I joined a leading reinsurance company based in Zurich as a facultative casualty underwriter for the French-speaking markets. Within a couple of years I had an opportunity to work for various Luso-Hispanic markets, including Spain, Portugal and Brazil. The on-the-job training this entailed was an ideal way to learn all the different market practices. Spending a number of months in Madrid and São Paulo provided the perfect environment for learning additional languages.

From facultative to treaty business

Since January 2001, I have been working at New Re. My first task at the company was to develop a casualty facultative portfolio. At the end of 2001, I moved to treaty business, which involved dealing with property in addition to casualty business. As a treaty underwriter, I dealt with the whole underwriting spectrum, which included administrative tasks, catastrophe capacity allocation, wording issues, portfolio analysis, dealing with brokers and clients, and assessing exposure and pricing aspects. Being part of a small organisation gave me a good opportunity to gain an overview of the European reinsurance market and acquire in-depth knowledge of specific markets.

From 2001 to 2003, I represented New Re at the Swiss Pool for the Insurance of Nuclear Risks, located in Zurich.

In 2007, I assumed responsibility for the UK and Irish markets, deputising for the head of a unit which included the Nordic countries. In addition to having marketing and underwriting responsibilities for the UK and Ireland, I coordinated marketing activities overall within the unit.

I enjoy my current position as Head of the underwriting unit for the UK and the Nordic countries.  The work encompasses the underwriting of property and casualty treaties and involves managing a team of underwriters.

I recently completed the requirements to qualify for the Associate in Risk Management (ARM) diploma awarded by the Insurance Institute of America.

Being part of Munich Re, the world leader in reinsurance, gives New Re full access to the Group’s know-how and opportunities to exchange ideas at various international meetings with our parent company.

Back to Zurich

The company’s forthcoming move from Geneva to Zurich will provide another challenge and the opportunity to further develop my experience in a fast-changing environment.