Latest Swiss Re Headlines
All the headlines from our Swiss Re Topic Page, ordered by recency.
Ohio KeyCorp Settles Leased Cars Case for $279 Million
Feb 23 2007 // Cleveland, Ohio-based KeyCorp Bank will receive $279 million from a Swiss insurance company to settle a six-year-old lawsuit over losses it claimed in its car leasing business. The settlement, disclosed this week in a...
Swiss Re Closes ‘Gherkin’ Sale
Feb 23 2007 // Swiss Re announced that it has completed the sale of its London office building, located at 30 St. Mary Axe, to an affiliate of the real-estate corporation IVG Immobilien AG for £600 million ($1.18 billion) (See IJ web...
Fairfax Q4 Net $159 Million; $227 Million Full Year
Feb 23 2007 // Toronto-based Fairfax Financial Holdings recorded net earnings in US dollars of $159.1 million for the fourth quarter of 2006 and $227.5 million for the 2006 year ($8.45 and $11.92 per diluted share, respectively). The...
Swiss Re P/C Renewals up 14%; Conference Call Today
Feb 13 2007 // Swiss Re announced that it has “grown its non-life [P/C] reinsurance portfolio by CHF 1.3 billion [$1.04 billion] or 14 percent, which reflects successful renewals of business acquired through the acquisition of...
Best Upgrades Swiss Re’s GE Acquisitions to ‘A+’
Feb 6 2007 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to “A+” (Superior) from “A” (Excellent) and the issuer credit ratings (ICR) to “aa” from “a” of Employers...
Swiss Re Sells London Office Building for $1.18 Billion
Feb 5 2007 // Swiss Re has agreed to sell its London office building, located at 30 St. Mary Axe, to an affiliate of the real-estate corporation IVG Immobilien AG for £600 million ($1.18 billion). The transaction is expected to close...
Swiss Re Estimates Kyrill Losses at $181 Million
Jan 26 2007 // Swiss Re’s preliminary estimates of its potential net losses from Windstorm Kyrill are around €140 million ($181 million) before tax. Its gross claims estimate is around €220 million ($284 million), but this is...
Swiss Re Backs Independent European Agency to Assess Nat Cat Risks
Jan 23 2007 // Swiss Re has issued a “focused report,” which assess the growth of the catastrophe bond market and calls for the establishment of an independent agency to “aggregate European claims data and provide the...
Best Withdraws GE Re Ratings
Jan 18 2007 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” and assigned an NR-5 (Not Formally Followed) to GE Reinsurance...
RMS Purchases HailCalc Europe
Jan 9 2007 // Newark Calif.-based Risk Management Solutions, a leading provider of products and services for the management of natural hazard risk, announced the acquisition of HailCalc Europe, which it described as “the first...
Swiss Re Employees Could Get Over $4000 Each for Less CO2
Jan 4 2007 // Swiss Re announced that it’s offering a rebate of up to CHF 5000 ($4058) to each of its employees who commit to reducing “her or his personal carbon footprint.” Swiss Re said: “The ‘COyou2...
2006: a big year for P&C buyers and sellers of all shapes and sizes
Dec 25 2006 // JANUARY Hallmark Aquires Aerospace Holdings Fort Worth, Texas-based Hallmark Financial Services Inc. has completed its acquisition of Aerospace Holdings LLC, which markets general aviation insurance products. Hallmark...
2006:a big year for P&C buyers and sellers of all shapes and sizes
Dec 24 2006 // JANUARY Hallmark Acquires Fort Worth, Texas-based Hallmark Financial Services Inc. has completed its acquisition of Aerospace Holdings LLC, which markets general aviation insurance products. Hallmark underwrites...
2006 Catastrophes Cost World’s Insurers $15 Billion, Lightest Hit in Years, Swiss Re Estimates
Dec 20 2006 //
Swiss Re Releases New <em>sigma</em> Study on Securitization
Dec 14 2006 // Swiss Re’s new sigma study – Securitizations,” also called “insurance linked securities (ILS),” notes that they “provide insurers with a financing vehicle and a means of transferring...
Swiss Re Buys 26% Stake in Indian Health Care Provider
Dec 12 2006 // Swiss Re has signed an agreement with TTK Group and India Value Funds Advisors (IVF) to purchase a 26 percent stake in TTK Healthcare Services Pvt Ltd (TTKHCS), one of India’s leading health insurance third party...
Swiss Re’s Economic Forum Focuses on Emerging Markets, Industry Outlook
Dec 6 2006 // Swiss Re’s recent Economic Forum noted the strong opportunities for insurance protection in emerging markets and a solid outlook for the insurance industry in 2007. The Forum, which began in London on Dec. 5,...
Swiss Re Advisors See Big Demand for Energy Risk Underwriting
Nov 29 2006 // Major global political and business leaders say energy issues are high on their agenda and that the demands and risk transfer needs of this sector pose challenges and opportunities for insurers and reinsurers. At Swiss...
Interstate, Swiss Re Expand Trucking Program into Virginia, Indiana
Nov 15 2006 // Interstate Insurance Management (IIM) and Swiss Re’s Commercial Insurance are expannding their insurance program for the trucking industry into Virginia and Indiana. The program, which has been in operation since...
Swiss Re Places AXA’s Osiris Mortality Securitization Program
Nov 14 2006 // Swiss Re announced the successful placement of $442 million of securities covering catastrophic mortality experience in France, Japan and the United States for the benefit of AXA Cessions. Swiss Re said it “arranged...
