Swiss Re

Swiss Re Ltd is one of the world’s leading reinsurance companies, founded in 1863 and headquartered in Zürich, Switzerland. It operates through a network of around 80 offices globally, employing approximately 14,400 people. The company offers services in reinsurance, insurance, and asset management. Its business is organised into four main units: Property & Casualty Reinsurance, Life & Health Reinsurance, Global Clients & Solutions, and Corporate Solutions. Swiss Re is listed on the SIX Swiss Exchange and was ranked 316th on the Fortune Global 500 in 2023.

Swiss Re Zurich

Swiss Re Zurich serves as the global headquarters of Swiss Re, strategically located in Switzerland's financial hub. The Zurich office plays a crucial role in coordinating the company’s international operations and initiatives across its vast network of offices.

Swiss Reinsurance Company Ltd

Swiss Re was created in response to the 1861 fire in Glarus, which highlighted the need for greater reinsurance coverage for catastrophic events. The company played a significant role in covering major events, including being a lead insurer during the September 11 attacks, where it faced a legal dispute that limited its payout to $3.5 billion. Swiss Re expanded its reach by acquiring GE Insurance Solutions in 2006 and completed significant acquisitions, such as Barclays Life Assurance Company and HSBC’s UK pensions business, which boosted its position in the market.

Swiss Re Reinsurance

Swiss Re's core business revolves around reinsurance, providing robust risk transfer solutions for insurers. The company’s Property & Casualty Reinsurance and Life & Health Reinsurance units offer treaty and facultative reinsurance to help insurers manage risks related to natural disasters, mortality, morbidity, and various other exposures. These solutions enable insurers to safeguard their financial stability and enhance their capacity to take on new risks.

Swiss Re Insurance

Alongside reinsurance, Swiss Re insurance offerings are delivered through its Corporate Solutions unit, which caters directly to corporate clients. This unit leverages Swiss Re’s global expertise to deliver property, liability, marine, aviation, and specialised insurance products, ensuring comprehensive risk management strategies for businesses in different sectors. Additionally, Swiss Re’s digital insurance division, iptiQ, facilitates seamless, technology-driven solutions for consumer insurance markets.

In recent years, Swiss Re has emphasised adapting to changing global risks, including natural catastrophes and the COVID-19 pandemic. The company’s financial reports for 2023 showed a revenue of $49.954 billion and net income of $3.214 billion. It maintains a strong asset base of $179.576 billion and a total equity of $16.371 billion. Leadership changes in 2024 included Andreas Berger’s appointment as Group CEO.

Swiss Re supports sustainability and resilience, demonstrated by initiatives like its 2023 acquisition of Fathom to enhance flood risk intelligence. The company’s offices include prominent locations in London’s 30 St Mary Axe and two offices in New York.

Swiss Re Ltd was founded in 1863 in Zürich, Switzerland, as a response to the significant fire in Glarus in 1861. The fire destroyed more than 500 homes, leaving two-thirds of the town in ruins and causing financial losses that exceeded the reserves of the cantonal fire insurance. This highlighted the need for more substantial reinsurance coverage against large-scale catastrophic events, which led to the formation of Swiss Re as the first Swiss reinsurance company ltd.

Swiss Re expanded its operations over the years, becoming a key player in global reinsurance. In 2001, Swiss Re was a lead insurer of the World Trade Center when the September 11 attacks occurred. The event led to a legal dispute with Silverstein Properties over whether the destruction of the Twin Towers was one event or two. In 2006, the New York appeals court ruled that the event was singular, limiting Swiss Re’s payout to $3.5 billion.

In 2006, Swiss Re acquired GE Insurance Solutions, making it the world’s largest reinsurer. The company faced challenges during the 2007–2008 financial crisis, losing 6 billion francs in financial market operations. To recover, Swiss Re raised capital with a $2.6 billion investment from Warren Buffett’s Berkshire Hathaway, which already held a stake in the company.

Swiss Re continued to expand with the acquisition of Life Assurance Holding Corporation in the UK in 2004 and Barclays Life Assurance Company Ltd for £762 million in 2008. 

In 2014, Swiss Re acquired the UK pensions business of HSBC Life (UK) Limited, worth £4.2 billion, under its Admin Re business. The Admin Re segment was later rebranded as ReAssure and sold to Phoenix Group Holdings for £3.2 billion in 2020.

In February 2022, Swiss Re acquired Champlain Reinsurance Company, a run-off reinsurance captive of Alcan Holdings Switzerland AG. The acquisition reflected Swiss Re’s strategy of strengthening its presence in legacy reinsurance solutions. Despite the challenges posed by the COVID-19 pandemic and increased natural catastrophe claims, Swiss Re maintained its commitment to growth and resilience.

In December 2023, Swiss Re acquired Fathom, a research-led flood risk intelligence firm. Fathom was retained as an independent brand and collaborated closely with Swiss Re's Reinsurance Solutions division to enhance flood risk assessment tools. 

By 2024, Andreas Berger was appointed Group CEO, replacing Christian Mumenthaler. Swiss Re remains a major global reinsurer, with a strong focus on sustainable progress, risk management, and innovation. The company continues to operate through its four main business units, providing comprehensive reinsurance and risk management solutions worldwide.

Swiss Re’s mission is to support its clients and partners in building a more resilient world. The company achieves this by combining its financial strength, risk expertise, and data-driven insights to anticipate and manage risks. Swiss Re works across various industries to provide reinsurance, insurance, and other risk transfer solutions that help clients withstand challenges such as natural disasters, economic crises, and emerging global risks. Through collaboration and tailored solutions, Swiss Re empowers its clients to grow and safeguard their operations, ensuring stability and progress during uncertain times. The company aims to bridge the global protection gap and promote resilience.

Swiss Re’s vision is to make the world more resilient. The company aims to be a trusted partner that helps societies adapt and thrive in a changing environment. By offering innovative risk solutions and using its extensive expertise, Swiss Re seeks to close the protection gap and ensure that more risks are managed effectively. Swiss Re envisions a future where clients can face uncertainties with confidence, supported by solutions that strengthen their ability to recover and sustain growth. The company’s long-term goal is to contribute to a safer, more stable world through strong partnerships and strategic risk management.

In 2020, the company won the Global Programme Innovation of the Year award at the European Risk Management Awards for its ONE Form solution. In 2022, Swiss Re was awarded Silver status in Stonewall's Global Workplace Equality Index, placing it among the Top Global Employers for its efforts in creating an inclusive environment for LGBTI+ employees. These accolades highlight Swiss Re's dedication to developing innovative solutions and fostering a diverse and inclusive workplace.

Swiss Re offers a range of products and services designed to help clients manage risk and secure their operations in various sectors. The company’s main areas of focus are reinsurance, insurance, and asset management, divided into several key business units: Property & Casualty Reinsurance, Life & Health Reinsurance, Global Clients & Solutions, and Corporate Solutions.

1. Property & Casualty Reinsurance: Swiss Re provides comprehensive reinsurance products in the property and casualty sector. This includes treaty and facultative reinsurance solutions, which help insurers manage significant risks related to natural disasters, industrial accidents, and other large-scale events. The Property & Casualty unit offers customised solutions that cover a wide range of exposures such as fire, natural catastrophe, liability, motor, and agriculture. Swiss Re combines global expertise and local knowledge to help clients protect against unforeseen financial losses and maintain stability in challenging situations.

2. Life & Health Reinsurance: In the Life & Health segment, Swiss Re supports insurers in managing risks associated with health and life coverage. The company offers tailored risk and capital management solutions that help clients free up capital and grow strategically. These services include mortality and morbidity risk cover, longevity solutions, and health reinsurance. Swiss Re’s expertise in predictive modelling and policyholder behaviour analysis enables insurers to better understand and manage their portfolios, improve underwriting, and enhance customer retention. This business unit ensures that insurers are equipped to respond effectively to demographic shifts and health challenges.

3. Corporate Solutions: Swiss Re Corporate Solutions provides direct commercial insurance to corporate clients. This business unit leverages Swiss Re’s extensive experience in the reinsurance field to offer over 50 traditional and innovative insurance products. These include property, liability, marine, and aviation coverage, as well as specialised insurance for sectors like energy, construction, and financial institutions. The Corporate Solutions team works closely with clients to assess their risk exposure and design bespoke insurance programmes that meet specific needs. This division’s global presence allows it to offer local expertise and support to businesses across different regions.

4. Global Clients & Solutions: The Global Clients & Solutions unit focuses on working with large multinational clients and providing tailored solutions for complex risk management needs. This unit collaborates with clients to create comprehensive risk transfer plans and strategic partnerships, combining Swiss Re’s expertise in various sectors with advanced data analytics to develop forward-thinking solutions.

5. Digital Insurance: Swiss Re’s digital insurance division, known as iptiQ, transforms the way consumers purchase insurance. By incorporating advanced digital platforms and underwriting capabilities, iptiQ helps insurers and distribution partners deliver seamless, technology-driven insurance solutions. This service enables insurers to reach new customer segments and streamline the policy issuance process.

6. Public Sector Solutions: Swiss Re partners with governments and public sector entities through its Public Sector Solutions unit. This division provides reinsurance products that help public bodies manage large-scale risks such as natural disasters, health crises, and infrastructure challenges. Swiss Re’s collaboration with the public sector helps bridge the gap between economic losses and insurance coverage, supporting societal resilience and economic recovery.

7. Asset Management: Swiss Re’s asset management services create value for the company and its shareholders by managing assets generated from its insurance and reinsurance operations. The company invests in a diversified portfolio that includes bonds, equities, real estate, and alternative investments. This approach ensures strong financial backing and supports the company’s ability to meet its long-term commitments to clients and policyholders.

8. Alternative Capital Solutions: Swiss Re also provides access to alternative capital markets through insurance-linked securities (ILS) and other innovative capital solutions. The Alternative Capital Partners unit combines the resources of Swiss Re Capital Markets and the Retro & Syndication team to offer clients additional ways to manage risk and tap into capital markets.