Swiss Re has announced that Frank O’Neill, current CEO for UK & Ireland (UKI), has decided to step down from his position, to pursue an opportunity outside the company.

Peter Elliott, the current head of life & health UKI has been appointed CEO UKI while the company carry out a search to find O’Neill’s successor.

O'Neill joined Swiss Re in 1998 and worked in a range of increasing senior roles spanning many Swiss Re markets including the regional head for South East Asia, client executive for key North American clients in the global team, the head of Africa and the Middle East. He was named CEO of Swiss Re UK in 2016, one of the group's largest business units.

Russell Higginbotham, CEO reinsurance EMEA at Swiss Re commented: "I would like to thank Frank for his tremendous commitment and contribution to Swiss Re over the last 20 years. We wish him every success in his future endeavours."