The chief underwriting officer at the Swiss reinsurer is resigning to take on the CEO role at a French competitor.

Swiss Re's Thierry Léger is stepping down as chief underwriting officer (CUO) with immediate effect, the reinsurer said in a statement late Thursday. At the beginning of May, Léger will take on the CEO role at Scor.

«Over the past 25 years at Swiss Re, Thierry Léger has made an important contribution to many areas of our business, from reinsurance to the former Life Capital business unit and Group Underwriting,» Swiss Re CEO Christian Mumenthaler said.

Mumenthaler will take over Léger's responsibilities until a replacement has been found, according to the statement.