ZURICH, (Reuters)—Swiss Re said Chief Executive Stefan Lippe will take early retirement after roughly three years at the helm in a surprise move which analysts said added a new element of uncertainty to a company Lippe had helped stabilize.

No reason was given for the departure, which Swiss Re said would take effect on an as-yet undetermined date next year. Some analysts saw reinsurance chief Christian Mumenthaler as likely successor, but Swiss Re said it would look at outside as well as internal candidates for the position.

The 56-year-old Lippe informed the Zurich-based insurer's board over the weekend of his decision, a Swiss Re spokesman said on Monday. In a statement, Lippe cited the turnaround of the Zurich-based reinsurer as the appropriate time to step down.

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