Swiss Re announced it appointed Archie KANE as the new non-executive Chairman of the Board of Directors of its UK-based closed book business ReAssure effective immediately.

The new Chairman will provide leadership to the Board of Directors, advise management on strategy and ensure timely and effective communications with all stakeholders during the company's anticipated initial public offering (IPO) in 2019.

Archie KANE brings to ReAssure more than three decades of leadership experience in financial services and board positions at major UK companies. He has a proven track record of guiding the debate of critical business issues and facilitating strategy discussions. Archie KANE has a solid understanding of best practice on corporate governance and regulatory matters, and he is accustomed to giving independent advice to management teams to assist them to deliver results.

Archie KANE is currently a Non-Executive Director at Melrose Industries PLC, which manufactures products across a range of industrial sectors including aerospace, automotive, air handling and power generation. Previously he served as the Governor of the Bank of Ireland from 2012 - 2018.

Archie KANE enjoyed a long and varied career at Lloyds Banking Group from 1986 until 2011, and was a group board member from 2000 - 2011. He served in a number of senior positions such as Group Executive Director, Insurance and Scotland, and Group Executive Director, Insurance and Investments, Lloyds TSB and Chief Executive, Scottish Widows. Also, while at Lloyds he held many other management positions in financial controlling, strategy and Group IT and Operations departments.

Swiss Re Life Capital CEO Thierry LEGER, says: "We would like to extend a warm welcome to Archie KANE as the new Chairman of the Board at ReAssure. He brings vast financial industry leadership experience along with in-depth understanding of best practices on corporate governance. I am confident that Archie KANE can provide ReAssure with strategic direction - especially during the important IPO process."

Swiss Re announced in August 2018 that it is exploring a potential IPO of ReAssure in 2019. In December 2018, the company appointed insurance industry veteran Mark HODGES as the new CEO of ReAssure PLC.