Swiss Re
company in Armonk, United States
Last updated November 4, 2026
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Overview
Swiss Re is a Swiss reinsurance group founded in Zurich in 1863. It was created after the devastating Glarus fire of May 1861 demonstrated that local insurance reserves were inadequate for unusually severe losses. The company became Switzerland’s first professional reinsurer and built its business around spreading risk across broad geographic markets and insurance lines. Its founding shareholders were Helvetia General Insurance Company of St. Gallen, Schweizerische Kreditanstalt and Basler Handelsbank. The group’s principal customers are insurance companies, large corporations, financial institutions and public-sector entities. Swiss Re generally does not sell most of its reinsurance products directly to individual consumers. Instead, it assumes portions of insurers’ portfolios or individual large risks in exchange for premiums, using diversification, actuarial analysis, underwriting expertise and investment management to absorb losses that would be difficult for a primary insurer to retain alone. Its activities include treaty and facultative reinsurance, life and health risk transfer, commercial insurance, risk analytics, capital solutions and related services. Swiss Re’s principal business units are Property & Casualty Reinsurance, Life & Health Reinsurance and Corporate Solutions. Property & Casualty Reinsurance covers areas such as natural catastrophe, property, casualty, specialty, marine, aviation, engineering, credit and political risk. Life & Health Reinsurance supports insurers with mortality, longevity, morbidity, medical and behavioural-risk solutions. Corporate Solutions is the group’s commercial-insurance arm, providing tailored coverage and risk-management services for multinational and large domestic companies. Swiss Re has also developed supporting capabilities in capital markets, asset management, digital insurance and risk intelligence. The company expanded substantially through acquisitions and international development. Its 2001 acquisition of Lincoln Re strengthened its US life-reinsurance position, while the 2006 acquisition of GE Insurance Solutions’ property-and-casualty operations made Swiss Re the world’s largest reinsurer at that time. The group also built a significant closed-book life and pensions business under Admin Re, later renamed ReAssure. ReAssure was sold to Phoenix Group in 2020, reflecting Swiss Re’s continuing effort to focus its portfolio on businesses where it can earn attractive risk-adjusted returns. Swiss Re has repeatedly been exposed to major global losses, including the September 11, 2001 attacks, severe storms, earthquakes, wildfires, pandemics and other catastrophe events. The 2008 financial crisis caused significant losses in its financial-market operations and led to a major capital-raising transaction involving Berkshire Hathaway and Warren Buffett in 2009. These experiences reinforced the group’s emphasis on capital strength, disciplined underwriting and risk diversification. In the 2020s, Swiss Re continued to develop its risk-information and legacy portfolios. It acquired Champlain Reinsurance Company in a legacy transaction in 2022 and acquired UK flood-risk intelligence firm Fathom in 2023. Fathom retained its brand while working with Swiss Re’s reinsurance business to expand flood maps and modelling capabilities. Swiss Re also publishes research through the Swiss Re Institute and uses data, modelling and technology to help clients understand emerging risks such as climate change, cyber risk, demographic change and technological disruption. Swiss Re Ltd is the listed holding company of the group. It is headquartered at Campus Mythenquai in Zurich and operates through a broad international office network. The group remains one of the world’s largest reinsurers by gross premiums written. Andreas Berger became Group Chief Executive Officer on July 1, 2024, succeeding Christian Mumenthaler, who had led the group since 2016. Swiss Re’s current positioning combines balance-sheet capacity with specialist underwriting, analytical expertise and long-term partnerships intended to make insurance systems and wider economies more resilient.
History
Swiss Re’s origins lie in the catastrophic fire that struck Glarus, Switzerland, on May 10–11, 1861. More than 500 houses were destroyed, approximately two-thirds of the town was reduced to rubble, and about 3,000 residents were left homeless. The loss exceeded the reserves of the local cantonal fire-insurance system and demonstrated the need for stronger protection against exceptionally large events. In response, Helvetia General Insurance Company of St. Gallen, Schweizerische Kreditanstalt and Basler Handelsbank founded the Swiss Reinsurance Company in Zurich. The company’s articles of association were approved on December 19, 1863, with foundation capital of six million Swiss francs. Swiss Re began international operations almost immediately. Its first marine reinsurance treaty was concluded in January 1864, followed by a fire treaty in May of the same year. Life reinsurance began in 1865, and the company developed business relationships with insurers in Germany, Italy, France, Austria, England, Belgium and Russia. Early expansion established a pattern that remained central to Swiss Re: combining a Swiss capital base with international risk pools. During the late nineteenth and early twentieth centuries, the company broadened its technical capabilities and operating network. It signed its first accident-reinsurance treaty in 1881 and created Prudentia in 1875 as an internal retrocession and coinsurance vehicle. Swiss Re experienced losses during severe fire years and the 1929 stock-market crash, but continued to develop as a major international reinsurer. By 1938 it had established Neue Holding AG, later renamed Swiss Re Holding, to manage domestic and foreign insurance-company holdings. After the Second World War, Swiss Re expanded through regional offices, advisory businesses and specialist services. The company opened or developed operations in markets including London, North America, Latin America and Asia. Its organization evolved from traditional insurance branches toward market-oriented and geographically based structures. In the 1960s and 1970s it added specialized activities in areas such as motor-claims assessment, aviation, engineering, marine and international risk management. The group also increased its involvement in direct-insurance holdings, although many of those interests were later sold as management refocused on reinsurance and related capital-and-risk services. The 1980s and 1990s brought further acquisitions and structural change. Swiss Re acquired Union Re and Lloyd Adriatico in 1988, expanded its captive-insurance and claims-handling activities, and later strengthened positions in Latin American, North American life and European markets. In 1998 it created Admin Re as a platform for managing closed or legacy life-insurance portfolios. From 1999, Schweizer Rück was marketed internationally under the name Swiss Re, providing a consistent global brand. In the 2000s, Swiss Re developed a more diversified platform spanning property and casualty, life and health, financial services and commercial insurance. It acquired Lincoln Re in 2001 and completed the acquisition of GE Insurance Solutions’ property-and-casualty business in 2006. The latter transaction substantially increased the group’s scale. Swiss Re was also a lead insurer connected with the World Trade Center insurance program at the time of the September 11 attacks. The resulting litigation ended with a 2006 New York appellate ruling that treated the destruction of the two towers as a single insured event. The global financial crisis of 2008 exposed Swiss Re to substantial losses in financial-market operations. In 2009 the group raised capital with significant participation from Berkshire Hathaway. The experience reinforced the importance of capital adequacy, risk controls and underwriting discipline. Swiss Re subsequently continued to participate in catastrophe-risk and insurance-linked-securities markets, including transactions designed to transfer earthquake, hurricane and mortality risks to capital-market investors. In the 2010s, Swiss Re reorganized its holding structure under Swiss Re Ltd and operated through Reinsurance, Corporate Solutions and Admin Re. Admin Re acquired major UK life and pensions portfolios, including businesses associated with Barclays and HSBC Life, before being renamed ReAssure and sold to Phoenix Group in 2020. Swiss Re also faced major insured losses from events such as Hurricane Sandy, the Fort McMurray wildfires, the COVID-19 pandemic and successive natural catastrophes. The group’s recent strategy has emphasized technical underwriting, capital-light risk solutions, digital capabilities, research and climate-risk analytics. Swiss Re acquired Champlain Re in 2022 and Fathom in 2023, adding legacy reinsurance and flood-risk intelligence capabilities. In 2024 Andreas Berger became Group CEO, succeeding Christian Mumenthaler. By 2025 and 2026, Swiss Re’s public strategy continued to center on resilience, disciplined underwriting, specialized business units, risk data and long-term institutional relationships.
- 2026
2025 annual report published
[5]Swiss Re published its annual report for the 2025 financial year on March 12, 2026.
- 2024
Andreas Berger becomes Group CEO
[4]Andreas Berger succeeded Christian Mumenthaler as Group CEO effective July 1, 2024.
- 2023
Fathom acquisition announced
[1]Swiss Re announced the acquisition of flood-risk intelligence firm Fathom.
- 2022
Champlain Re acquisition
[1]Swiss Re acquired Champlain Reinsurance Company in a legacy run-off transaction.
- 2020
ReAssure sold to Phoenix Group
[1]Swiss Re completed the sale of its ReAssure business to Phoenix Group.
- 2014
HSBC Life UK pensions acquisition
[1]Admin Re acquired the UK pensions business of HSBC Life UK, expanding its closed-book life and pensions platform.
- 2011
Swiss Re Ltd becomes group holding company
[2]Swiss Re Ltd was established as the group’s holding company, with Reinsurance, Corporate Solutions and Admin Re as principal business units at the time.
- 2009
Berkshire Hathaway capital transaction
[7]Swiss Re raised capital after financial-crisis losses through a transaction involving Berkshire Hathaway.
- 2006
GE Insurance Solutions acquisition
[1]Swiss Re acquired GE Insurance Solutions’ property-and-casualty business, significantly increasing its global scale.
- 2006
World Trade Center insurance ruling
[6]A New York appellate court ruled that the World Trade Center destruction constituted one insured event for the relevant policy dispute.
Products and positioning
A global, research-led reinsurer and commercial-risk partner focused on capital strength, technical underwriting, risk intelligence and resilience against large or emerging risks.
Reinsurance
Property & Casualty Reinsurance
Swiss Re’s property-and-casualty reinsurance business helps primary insurers transfer portfolios of property, casualty and specialty risks. Its capabilities include natural catastrophe, commercial property, casualty, marine, aviation, engineering, credit, political risk and other specialty lines. Solutions may be structured as treaty reinsurance covering defined books of business or facultative reinsurance for individual large or unusual exposures. The business relies on catastrophe models, actuarial analysis, portfolio diversification and disciplined capital allocation.
Reinsurance · 1865
Life & Health Reinsurance
Life & Health Reinsurance provides mortality, longevity, morbidity, medical and related risk-transfer solutions to insurers and other financial institutions. It supports traditional life portfolios, protection products, retirement and pension obligations, health risks and longevity management. The business combines underwriting, demographic research, capital solutions and long-term balance-sheet management to help clients manage reserves and improve the predictability of future claims.
Commercial insurance · 2011
Swiss Re Corporate Solutions
Corporate Solutions is Swiss Re’s commercial-insurance arm. It provides tailored property, casualty, specialty and risk-management coverage for multinational companies, large commercial organizations and selected domestic clients. The unit works through brokers, intermediaries and direct corporate relationships, offering solutions for complex exposures that may require international program coordination, specialist underwriting or substantial claims and risk-engineering expertise.
Closed-book life and pensions · 1998
Admin Re / ReAssure
Admin Re was Swiss Re’s platform for acquiring and managing closed or legacy life-insurance and pensions portfolios. It expanded through UK transactions involving Life Assurance Holding Corporation, Barclays Life Assurance and HSBC Life UK. The business was renamed ReAssure and ultimately sold to Phoenix Group in 2020, so it is no longer a Swiss Re operating offering.
Risk intelligence · 2023
Fathom flood-risk intelligence
Fathom provides flood maps, models and related risk intelligence used to assess flood exposure. After Swiss Re acquired the business in 2023, Fathom retained its identity while working with the reinsurance organization to develop and distribute flood-risk products. Its capabilities support catastrophe modelling, underwriting, portfolio management, resilience planning and risk-transfer decisions.
Research and knowledge services · 2000
Swiss Re Institute
Swiss Re Institute is the group’s research and knowledge platform. It publishes analysis on insurance markets, macroeconomic conditions, natural catastrophes, climate change, technology, health, demographics and emerging risks. The institute also supports dialogue with clients, policymakers, academics and other stakeholders through research, events and risk-focused communications.
Controversies
2026
Reports concerning Russell Higginbotham investigation
Insurance and Swiss financial-media reports described allegations involving former senior executive Russell Higginbotham, including claims of inappropriate communications with a female employee and questions about the handling and disclosure of an internal investigation. Swiss Re said it does not comment on individual cases or internal matters. The allegations and reported governance questions were not independently established in the cited reference material.
2023
Julia Sommer compensation award
Sommer was awarded approximately £1.2 million following the employment tribunal proceedings. Later claims concerning additional compensation were also reported. The case became a prominent public example of allegations concerning workplace discrimination and harassment at Swiss Re.
2022
Julia Sommer employment tribunal findings
A London employment tribunal found that former Swiss Re political-risk underwriter Julia Sommer had experienced sex discrimination, harassment, maternity-related discrimination and unfair dismissal. The tribunal accepted parts of her account concerning inappropriate remarks and treatment during and after maternity leave. Swiss Re said it noted the conclusions and was considering them, while stating that it does not tolerate discrimination and is committed to an inclusive workplace.
Marketing campaigns
- 2023160 years: Reinsurance, reinvention, resilience
Global
Swiss Re marked its 160th anniversary with communications emphasizing its origins in catastrophe risk, international diversification and the evolution of reinsurance into a broader resilience and risk-management discipline.
Outcome. The anniversary campaign reinforced the group’s historical identity and its positioning around resilience and innovation.
- 2007Principles for Responsible Investment commitment
Global
Swiss Re signed the United Nations-backed Principles for Responsible Investment, extending its stated commitment to incorporate sustainability considerations into investment decision-making.
Outcome. The commitment positioned responsible investment as part of the group’s broader sustainability and risk-management framework.
Brand decisions
2024
Appoint Andreas Berger as Group CEOOtherBackground
Swiss Re planned a leadership transition after Christian Mumenthaler’s tenure as Group CEO.
Action taken
The board appointed Andreas Berger Group CEO effective July 1, 2024.
Aftermath
Berger’s appointment continued the group’s focus on underwriting discipline, operational execution, commercial insurance and resilience-oriented growth.
2023
Acquire FathomM&ABackground
Flood risk is an increasingly important underwriting and resilience issue, particularly as climate-related hazards affect insurance portfolios and infrastructure.
Action taken
Swiss Re acquired Fathom, retaining the company’s brand and integrating its flood maps and models more closely with Swiss Re’s reinsurance activities.
Aftermath
The decision strengthened Swiss Re’s flood-risk analytics and supported more data-intensive underwriting and risk-transfer solutions.
2022
Acquire Champlain ReM&ABackground
Swiss Re continued to build its legacy and run-off reinsurance capabilities.
Action taken
Swiss Re acquired Champlain Reinsurance Company, a Swiss-based run-off captive associated with Rio Tinto Alcan.
Aftermath
The transaction expanded Swiss Re’s legacy portfolio and supported its specialist management of run-off risks.
2020
Sell ReAssure to Phoenix GroupM&ABackground
Swiss Re reviewed its closed-book life and pensions portfolio as part of a broader focus on core reinsurance and commercial-risk activities.
Action taken
Swiss Re completed the sale of ReAssure to Phoenix Group Holdings.
Aftermath
The divestment removed a major legacy-life platform from Swiss Re and returned the business to Phoenix Group’s specialist consolidation strategy.
Sale value. Approximately £3.2 billion (2020)
2011
Create Swiss Re Ltd holding structureStrategyBackground
Swiss Re reorganized its legal and operating structure to separate the listed holding company from its principal business units.
Action taken
Swiss Re Ltd became the group holding company for Reinsurance, Corporate Solutions and Admin Re.
Aftermath
The structure provided a clearer platform for managing the group’s reinsurance, commercial-insurance and legacy-life activities.
2009
Raise capital after financial-crisis lossesStrategyBackground
Swiss Re suffered substantial losses in financial-market operations during the 2008 global financial crisis and needed to reinforce its capital position.
Action taken
The group raised capital in a transaction involving Berkshire Hathaway and Warren Buffett.
Aftermath
The transaction strengthened Swiss Re’s capital base and became a defining example of the group’s post-crisis balance-sheet repair.
Capital investment. Approximately US$2.6 billion invested by Berkshire Hathaway (2009)
2006
Acquire GE Insurance Solutions property-and-casualty businessM&ABackground
Swiss Re sought to expand its property-and-casualty scale and international client base through a major acquisition from General Electric.
Action taken
Swiss Re completed the acquisition of GE Insurance Solutions’ property-and-casualty operations.
Aftermath
The transaction substantially increased Swiss Re’s size and was described at the time as making it the world’s largest reinsurer.
Acquisition value. Approximately US$7.4 billion transaction value (2006)
Recent events
Reported
Swiss Re names Ivan Gonzalez China reinsurance CEO and country president[8]
Swiss Re named Ivan Gonzalez CEO of reinsurance in China and country president, subject to regulatory approval.
Reported
TCS and Swiss Re expand strategic partnership for cloud-based digital workplace[9]
Tata Consultancy Services expanded its strategic partnership with Swiss Re. Under the initiative, TCS will help develop Swiss Re's cloud-based digital workplace and manage its underlying operations.
Reported
Swiss Re announces group legal-entity restructuring[10]
Swiss Re announced changes to the group's legal-entity structure, including making Swiss Reinsurance Company Ltd its sole direct wholly owned operating subsidiary; the new structure is expected to be in place by the end of 2021, subject to regulatory approvals.
Waterdrop completes $230 million Series D financing[11]
Waterdrop announced that it had completed a $230 million Series D financing, co-led by Swiss Re Group and Tencent, with existing investors including IDG Capital and Enlight Growth Partners also participating.
- Unconfirmed
Swiss Re completes sale of ReAssure[12]
Swiss Re announced that it had completed the sale of its subsidiary ReAssure Group plc to Phoenix Group Holdings plc after receiving the required regulatory and antitrust approvals.
Reported
Swiss Re announces Hadi Riachi as CEO of its India unit[13]
Swiss Re announced Hadi Riachi's appointment as CEO of its India unit, effective April 1.
Sources15 sources
- 1Swiss Re — Wikipediaen.wikipedia.org
- 2Swiss Re corporate history: Established 1863swissre.com
- 3Swiss Re: Celebrating 160 yearsswissre.com
- 4Swiss Re Annual Report 2025swissre.com
- 5Swiss Re Annual Report 2025 investor pageswissre.com
- 6Swiss Re wins World Trade Center caseswissinfo.ch
- 7Swiss Re Gets $2.6 Billion From Berkshire Hathawaynytimes.com
- 8Swiss Re任命Ivan Gonzalez为中国再保险业务CEO及国家总裁finews.asia
- 9TCS与Swiss Re扩大云端数字化工作场所战略合作business-standard.com
- 10瑞士再保险宣布集团法律实体架构调整insurancebusinessmag.com
- 11水滴公司完成2.3亿美元D轮系列融资insurance.cnfol.com
- 12瑞士再保险完成出售ReAssureactuarialpost.co.uk
- 13Swiss Re announces Hadi Riachi as CEO of its India unitthehindubusinessline.com
- 14水滴公司完成2.3亿美元D轮系列融资 瑞士再保险集团和腾讯公司联合领投tech.sina.com.cn
- 15水滴公司完成2.3亿美元D轮系列融资，发力保险科技新基建tech.sina.com.cn
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