By Olivia Bugault 



   Swiss Re AG said Friday that it has appointed a new chief underwriting officer and that its life capital business will be disbanded by the end of this year. 


  Thierry Leger will succeed Edi Schmid, who decided to step down for personal reasons, as of Sept. 1, the Swiss reinsurer said. Mr. Leger has been at the head of Swiss Re's life capital business since its creation in early 2016. 


  Meanwhile, Swiss Re said that its life capital business--which combines the ReAssure, ElipsLife and iptiQ businesses--will be disbanded once the sale of ReAssure to Phoenix Group Holdings is completed, which is expected to be in the third quarter of this year. The disbandment should be completed by the end of December 2020, it said. 


  "ElipsLife, which provides life and health insurance solutions and services for corporate clients, will move to Corporate Solutions at the end of Sept. 2020," Swiss Re said, adding that "iptiQ will become a standalone division reporting to the group Chief Executive Officer, effective January 1, 2021." 


  Swiss Re is still assessing the further streamlining of the structure of the group, it said. 


  Write to Olivia Bugault at olivia.bugault@wsj.com