swiss re ltd-spn adr (SSREY) Key Developments
Swiss Re Terminated Takeover Talks With Phoenix
Nov 13 13
Swiss Re Ltd (SWX:SREN) terminated the talks with Phoenix Group Holdings Plc (LSE:PHNX). The parties were in talks about the purchase of Phoenix Group Holdings by Swiss Re’s business unit Admin Re UK Limited. Swiss Re and Phoenix confirmed on November 13, 2013, that discussions are terminated as Swiss Re and Phoenix were unable to agree the terms on which a mutually acceptable transaction could take place.
Swiss Re Reports Earnings Results for the Third Quarter of 2013
Nov 7 13
Swiss Re reported earnings results for the third quarter of 2013. For the quarter, the company reported net earnings of $1.1 billion compared to $2.2 billion a year ago. Earned premiums and fee income increased by 14% to $7.5 billion compared to third quarter of 2012. Earned premiums and fee income increased by 14% to $7.5 billion compared to the third quarter of 2012, but its combined ratio worsened to 83.4% in the third quarter of 2013 from 72.0% in the same year-ago quarter due to a number of large losses, especially German hailstorms in July.
Swiss Re Inks Deals with CAE and Aviation Performance Solutions
Oct 22 13
Swiss Re's Corporate Solutions unit said it has signed an agreement with CAE and Aviation Performance Solutions. The agreement allows General Aviation clients based in North America to increase aviation safety through a combination of an advanced training programme and financial incentives embedded into the insurance purchase. The programme will be rolled out globally in 2014. The advanced training programme, addressing loss of control in-flight, has been developed by APS and CAE. Both companies have been collaborating to provide UPRT for business and commercial aircraft pilots. Loss of control in-flight refers to incidents outside of the normal flight procedures that lead to an inability of the pilot to regain control of the aircraft. By focusing on its prevention, Swiss Re Corporate Solutions is launching a program that specifically addresses one of the causes of passenger fatalities in general aviation. As an incentive, Swiss Re Corporate Solutions will offer premium credits to qualifying General Aviation clients, which can be used towards the price of the training courses. Both CAE and APS have discounted these courses especially for participants in this program.
Swiss Re Plan To Sell Its Aurora assets
Oct 15 13
Swiss Re Ltd (SWX:SREN) has announced it is planning to sell Aurora National Life Assurance Company as it retreats from the US life and health insurance market. Swiss Re is looking to find buyers for Aurora National and some other US assets. It is expected that the sale could raise as much as $400 million for the company.
Swiss Re Ltd Presents at Bloomberg's Longevity Economy Conference, Oct-10-2013 10:00 AM
Oct 9 13
Swiss Re Ltd Presents at Bloomberg's Longevity Economy Conference, Oct-10-2013 10:00 AM. Venue: Crosby Street Hotel, New York, New York, United States. Speakers: George Graziani, Head of Longevity Americas.