Latest Swiss Re Headlines
All the headlines from our Swiss Re Topic Page, ordered by recency.
Swiss Re/London American Launch New Utility Program
Sep 27 2006 // Swiss Re and London American Risk Specialists Inc. launched a program for small to medium-sized private and public utilities. The program, which includes classes of business for utilities such as gas, electrical, water and...
Swiss Re Confirms 2000 Job Cuts
Sep 25 2006 // From a financial standpoint Swiss Re’s integration of GE Insurance Solutions seems to be progressing well. However, it has inevitably led to job cuts, or as the British would put it, redundancies. Swiss Re announced...
Swiss Re May Sell ‘Gherkin’
Sep 18 2006 // In a brief announcement on Friday Swiss Re confirmed that it “is in the process of evaluating the sale of an interest in 30 St Mary Axe, its London based office building, in an attractive market...
Best Affirms Swiss Re, GEIS, GE Frankona Ratings; Off Review
Aug 24 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Swiss Reinsurance Company and its rated subsidiaries. Best also...
Business Moves
Aug 7 2006 // Cooper Gay & Cashman, Cooper Gay Intermediaries Independent reinsurance brokers, Cooper Gay (Holdings) Ltd., headquartered in London, renamed its U.S. domestic treaty operation Cooper Gay Intermediaries LLC. Based in...
Swiss Re 1st Half Profit up 16% to $1.27 Billion
Aug 4 2006 // Swiss Re reported a successful first half of 2006 with net income of CHF 1.566 billion ($1.27 billion), a 16 percent increase compared to a strong first half of 2005. Annualized return on equity was 13.9 percent and...
SWISS RE ANNOUNCES FIRST GE LAYOFFS
Jul 24 2006 // Swiss Re, the world’s biggest reinsurer since it completed the acquisition of GE Insurance Solutions, has lost no time in reducing its workforce. In a move it characterized as a “process to capture efficiency...
Business Moves
Jul 24 2006 // Starr Aviation Agency, Chubb Starr Aviation Agency Inc., a wholly-owned specialty subsidiary of C.V. Starr & Co. Inc. and The Chubb Corp. entered into an underwriting agreement under which Chubb will provide hull and...
Swiss Re announces first GE layoffs
Jul 24 2006 // Swiss Re, the world’s biggest reinsurer since it completed the acquisition of GE Insurance Solutions, has lost no time in reducing its workforce. In a move it characterized as a “process to capture efficiency...
Swiss Re to Cut 2,000 Jobs in 2007 to Improve Efficiency
Jul 13 2006 // Swiss Reinsurance Co. said Tuesday it would cut up to 2,000 jobs by the end of 2007 in a bid to improve efficiency. Large offices in Zurich; London; Munich; Armonk, N.Y.; and Kansas City, Kan., will be primarily affected,...
Swiss Re Announces First GE Layoffs
Jul 11 2006 // Swiss Re – the world’s biggest reinsurer since it completed the acquisition of GE Insurance Solutions – has lost no time in reducing its workforce. In a move it characterized as a “process to...
Swiss Re Completes FPK Sale to J.C. Flowers & Co. LLC
Jun 29 2006 // Swiss Re has completed the sale of its wholly owned subsidiary Fox-Pitt, Kelton (FPK) to an investor group led by J.C. Flowers & Co. LLC and by FPK management. Swiss Re will hold a minority interest in the new...
Swiss Re Economists Analyze Global Situation; Insurance Outlook
Jun 28 2006 // Swiss Re’s economists held their “Mid-year Economic and Insurance Industry” teleconference yesterday, June 27, covering concerns on inflation, interest rates, high oil prices and the outlook for the...
Cat model reassessments cause rating and capital changes
Jun 19 2006 // Last fall’s disastrous hurricanes provided some rough times for the catastrophe modeling industry. Consequently the principal cat modelers — Applied Insurance Research, EQE International’s EQECAT, and...
S&P Lowers Swiss Re Ratings; Raises ERC, GE Re, GEIS
Jun 13 2006 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Swiss Reinsurance Co. and its core entities to “AA-” from “AA”...
Best, Fitch Comment on Swiss Re’s Ratings Following GEIS Acquisition
Jun 13 2006 // A.M. Best Co. and Fitch Ratings have both issued statements concerning their ratings on the Swiss Re Group and its subsidiaries following the closure of the acquisition of GEIS and related entities (See IJ Website June...
Swiss Re Completes GEIS Acquisition
Jun 12 2006 // Swiss Re and General Electric have announced the completion of the sale of GE’s reinsurance business, GE Insurance Solutions, including Employers Reinsurance Corp. (ERC), to Swiss Re for between $7.4 billion,...
Swiss Re Places $950 Million in ‘Successor Programme’ Cat Bonds
Jun 7 2006 // Swiss Re has obtained $950 million worth of protection against North Atlantic Hurricanes, Europe Windstorms, Californian Earthquakes and Japan Earthquakes through a natural catastrophe protection program named...
S&P Assigns Ratings to Swiss Re’s ‘Successor Programme’ Notes
Jun 7 2006 // Standard & Poor’s Ratings Services has assigned its senior secured debt ratings to the principal at-risk variable-rate notes issued under Swiss Reinsurance Co.’s Successor shelf program (See previous...
S&P Puts ERAC on CreditWatch
Jun 7 2006 // Standard & Poor’s Ratings Services has placed its “A” financial strength rating on Employers Reassurance Corp. (ERAC), a subsidiary of GE Insurance Solutions (GEIS) on CreditWatch with developing...
