Swiss Re Advances World Trade Center Payment

November 7, 2001

Swiss Re advanced its share of a $75-million initial payment to speed the process of paying its insurance claims from the World Trade Center terrorist attacks.

According to Jacques Dubois, CEO and president of Swiss Re America Holding Corp., Swiss Re has been “a catalyst in putting World Trade Center claims payments on a fast track.” Dubois said Swiss Re’s goal is to ensure that all claims are paid in a timely manner.

The claims payment is being made with the authorization of all entities with a legal interest in the insurance proceeds and without prejudice to the rights or interest of any of the parties involved in the current litigation between Silverstein and Swiss Re, the company said.

Swiss Re is one of the world’s largest reinsurers with over 70 offices in more than 30 countries. In the 2000 financial year, gross premium volume amounted to USD $16.1 billion and the net income after tax reached $1.8 billion. Swiss Re is rated “AAA” by Standard & Poor’s, “Aaa” by Moody’s and “A++” by A.M. Best.

Topics Swiss Re

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