Swiss Re India appoints Hadi Riachi as CEOMarch 12 2020 by Yvonne Lau
Swiss Re has appointed Hadi Riachi as chief executive of its India branch, effective April 1; he will be based in Mumbai.
Riachi will succeed G. Satish Raju, who will be leaving the company to pursue external opportunities.
Raju first joined Swiss Re from 2001 to 2009 as vice president; and since 2013, he rejoined the company as head of South Asia, global partnerships. Raju became chief executive of Swiss Re’s India branch in June 2018.
In Riachi’s new role as India chief executive, he will be leading growth and development across P&C and L&H lines in India. He will additionally drive the firm’s engagement with government partners.
Prior to this appointment, Riachi was leading Swiss Re’s P&C and L&H business lines as head of North Africa; he also worked on strengthening the public sector solutions in this market. Riachi first joined the firm in 2015 and was based in Shanghai as Swiss Re Corporate Solutions’ head of property and specialties looking after a diverse sector of P&C lines.
Victor Kuk, head of P&C solutions, South-East Asia, India, Korea, Hong Kong and Taiwan at Swiss Re, commented: “We believe that Asia will drive 50% of Swiss Re’s growth in this decade and part of that growth lies in our ability to capture the opportunities in high-growth markets, which includes India.”
On Riashi’s appointment, Kuk noted: “With [Riashi] onboard, we have a leader with a wealth of experience in the P&C business and a proven track record in realizing the potential and opportunities in a high growth market environment, which will be instrumental to our growth plans in India.”
In late 2019, the Swiss Re Institute (SRI) released a report that hailed emerging Asia — particularly the India and China markets — as the catalysts that will spur insurance market growth for 2020 and 2021, despite a sluggish global economic forecast.
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