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About Swiss RE Solutions Holding Corporation

Swiss Re writes reinsurance for both property/casualty and life and health insurers. It also writes property/casualty reinsurance for corporate and public sector clients that are self-insured and help them manage their risk. For insurers looking to unload old books of life insurance, the company's Life Capital group will buy up closed books and maintain the policies; that unit also stays busy making the most of the assets generated by its other businesses. While Swiss Re is active around the globe, its activities in the Americas account for more than 45% of its total premiums. Operating from offices in about 30 countries.

Operations

Swiss Re operates through three core business segments: Reinsurance (representing some 85% of net premiums), Corporate Solutions (about 10%), and Life Capital (less than 5%).

The Reinsurance segment, including units P&C Re and L&H Re, offers insurance-linked securities and other insurance-related capital market products in both Property & Casualty and Life & Health.

Corporate Solutions provides risk transfer solutions and multi-line programs to customized solutions to large and mid-sized corporation.

Life Capital acquires closed and open books of in-force life and health insurance. Its brands include elipsLife, and iptiQ.

Geographic Reach

Zurich-based Swiss Re has about 80 offices in some 30 countries. The Americas bring in more than 45% of net premiums. Europe, the Middle East, and Africa (EMEA) bring in about one-third of net premiums, and the Asia/Pacific region brings in around 20%.

Sales and Marketing

Swiss Re markets its products directly and through brokers. Its client base is global and consists of insurance companies, mid-sized to large corporations, and public sector clients.

Financial Performance

Swiss Re's revenue for the last five years has been volatile. Despite this, it has an overall growth of 38% between 2015 and 2019. Between 2018 and 2019, revenue grew 33%. Net income declined in 2016 and dropped in 2017. It was followed by a couple of years of gradual growth.

In 2019, revenue grew 33% to $49.3 billion. This was due to primarily increase in premiums earned.

Net income rose 57% to $727 million that year the increase was due to almost $50 billion in revenue.

The group ended 2019 with $7.6 billion in net cash, about $2.7 billion more than it had at the end of 2018. Operating activities provided $4.4 billion and investing activities provided $2.5 billion, while financing activities used $2.6 billion. Swiss Re's main cash uses in 2019 were for repayment for short-term debt and dividend paid.

Strategy

Swiss Re's purpose is to make the world more resilient and act as a shock absorber for societies and communities. Its access to risk is not guaranteed, even as risk pools continue to grow over the next decades. Swiss Re therefore diversifies its access to risk pools to fulfill its purpose and succeed. The company does this by leveraging three strategic assets that it has built over more than 150 years. Together, these strategic assets differentiate Swiss Re from the competition and, alongside its collaborative, innovative and empowering culture, help it attract and retain some of the best talents in the industry.

Swiss Re implements its strategy of diversifying access to risk pools by: Expanding our Reinsurance business through transactions and tailored solutions; Accessing corporate risk directly through our Corporate Solutions business; and gaining exposure to risk pools in high-growth markets that we can't access otherwise by taking minority stakes through Principal Investments and Acquisitions.

Mergers and Acquisitions

In 2019 Swiss Re's ReAssure unit acquired London-based, Quilter plc's life insurance and pensions division for £425 million, boosting the company's closed book business. The purchase brings more than 200,000 customer policies and £12 billion in assets in a sector where scale is key to produce profits.

Company Background

In 1863 M. J. Grossmann lobbied the Schweizerische Kreditanstalt to allow the creation of a reinsurance organization to serve Schweizerische Lebensversicherungs- und Rentenanstalt (Swiss life insurer) and Helvetia Schweizerische Feuerversicherings-Gesellschaft (Swiss fire insurer), the two largest insurance companies in Switzerland at the time. Schweizerische Ruckverischerungs-Gesellschaft (Swiss Re) was founded later the same year, with Georg Schmidt, a seasoned insurance executive, at its helm.

In 1881 the company signed its first accident reinsurance contract, then introduced motor vehicle third-party insurance in 1901 and engineering reinsurance in 1904. It entered the primary insurance market during the 1970s and 1980s, but exited that business in the 1990s.

Swiss RE Solutions Holding Corporation

5200 Metcalf Ave
Overland Park, KS 66202-1265
Phone: 1 (913) 676-5200

Firm Stats

Employer Type: Privately Owned
Chief Underwriting Officer: Julien Descombes
Vice Chairman: Renato Fassbind
Chairman: Walter B Kielholz
Employees (This Location): 1,000
Employees (All Locations): 4,000

Major Office Locations

Overland Park, KS

Other Locations

Los Angeles, CA
San Francisco, CA