As part of the preparation towards a potential initial public offering (IPO) of ReAssure, Swiss Re announces Mark HODGES, currently Chief Executive Officer of Centrica Consumer division, as new CEO of ReAssure from 1 March 2019.

"The new CEO will steer the ReAssure business through the anticipated IPO in 2019 and will lead its next phase of expansion as an independent listed closed book consolidator", Swiss Re announced in a statement.

Swiss Re announced in August that it would explore a potential initial public offering (IPO) of its UK closed book business ReAssure in 2019. "Given the size of potential opportunities that are expected to arise in the market in the mid-term, it is important for ReAssure to have access to substantial new capital to acquire additional closed books".