Swiss Re has announced its plans to create a central cyber underwriting team, where John Coletti will join the group as head of Global Cyber.
The central cyber underwriting team will assume global responsibility for Swiss Re’s underwriting and product development activities.
The group said that by creating more dedicated cyber capabilities, Swiss Re aims to “further strengthen its client offering as well as its position as a thought leader in the market”.
Maya Bundt, the current head of Cyber Solutions, will now take on a newly created role at the Swiss Re Institute’s Cyber Centre of Competence.
Meanwhile, Coletti will join Swiss Re as head of Global Cyber in early October. He moves from AXA XL, where he served as the chief underwriting officer for Cyber since 2012.
According to Swiss Re, he is a respected leader in the cyber insurance market, and with his expertise, he will help Swiss Re to address the “complex nature” of cyber risk, including important industry issues such as ransomware and risk aggregation.
He will report to Gregory Schiffer, head of Global Specialty, and will be responsible for Swiss Re’s global cyber business, which includes portfolio ownership, global underwriting activities as well as cyber product development.
Swiss Re’s head of Global Specialty Gregory Schiffer said: “With John Coletti, we have been able to attract another experienced leader in the cyber insurance market. At the same time, I would like to thank Maya Bundt for her leadership, and the innovation and successes that have already been achieved in our cyber business.“