Swiss Re has a new head of Europe, Middle East and Africa. His predecessor is leaving the company.

The world’s second-largest reinsurer appointed Russell Higginbotham as chief executive for the EMEA region (Europe, Middle East and Africa). He replaces Jean-Jacques Henchoz, who’s decided to leave Swiss Re after two decades, the Zurich-based company said in a statement on Wednesday.

Higginbotham will also take the place of Henchoz on the executive board. He is a veteran manager at Swiss Re, with 24 years of service. In his last position, he was in charge of the global life and health products division. Before, he was chief executive of Swiss Re in the U.K. and Ireland and CEO of Swiss Re in Australia and New Zealand.

The change in leadership becomes effective September 1, Swiss Re said.