Bruno Pfister elected onto SIA Board
Federal Councillor Doris Leuthard
The Swiss Insurance Association elected Bruno Pfister (Group CEO Swiss Life) onto the SIA Board at its General Meeting today. Rolf Dörig (Delegate of the Board of Directors of Swiss Life) is standing down from the Board.
Zurich, 25 June 2008 – The Swiss Insurance Association held its 78th General Meeting today at the Hotel Marriott in Zurich. This year, the guest speakers were Federal Councillor Doris Leuthard, and Oswald Oelz, a skilled mountaineer, expedition doctor and high-altitude physician.
The delegates of the Swiss Insurance Association elected Bruno Pfister (Group CEO Swiss Life) onto the SIA Board. Bruno Pfister has already worked for the SIA, heading up the Economy & Financial Affairs Committee between 2004 and 2007. Rolf Dörig (Delegate of the Board of Directors of Swiss Life) is standing down from the Board. SIA Chairman Erich Walser paid tribute to the efforts of Rolf Dörig, who was elected onto the SIA Board in 2003.
The insurance industry is in excellent health, despite the crisis in the financial markets
In his speech, Erich Walser emphasised the strength and excellent health of the Swiss insurance industry despite the American subprime crisis and the subsequent turmoil in the financial markets. Erich Walser put this robustness down to adjustments in investment strategy and the new supervisory regime: «Swiss insurers learned their lessons from the troubles in the financial markets at the start of the millennium and have since successively reduced their shareholdings. At the same time, the move from rules-based to risk-based insurance supervision has raised our awareness for a new approach to risk – and that includes investment risk.»
The SIA welcomed three new members in the form of Partner Re Zurich Branch (Zurich), animalia sa (Bern) and Glacier Re. This means that 78 insurance companies are now members of the SIA – the umbrella organisation representing the private insurance industry. All told, these companies account for over 95% of the premium income generated by private insurers in the Swiss market.
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