Swiss Re announced today first-half 2005 net profits fell 6percent to $1.06 billion. In addition, the company said ChiefExecutive Officer John Coomber will retire at year's end and bereplaced by his deputy, Jacques Aigrain.

Mr. Coomber assumed the CEO post in 2003 and during his tenurethe company was brought back to profitability.

"As we change over to our new organizational structure, ourlong-term management plan now allows a smooth transition at thehelm of the organization to Jacques Aigrain," Swiss Re said in astatement.

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