Swiss Re could merge Corporate Solutions with rival; buys outside core business possible - Neue Zuercher Zeitung
Swiss Re, a Swiss reinsurance group, could consider merging its Corporate Solutions unit with a rival, Neue Zuercher Zeitung reported. Walter Kielholz, the president of the Swiss Re administrative board, told the German language newspaper that the flexibility of the group’s holding structure would, for instance, allow the aforementioned Corporate Solutions division to “team up with someone”. Kielholz described Swiss Re’s Corporate Solutions unit as a dwarf that is merely the 25th largest business of its kind.
On a different note, Kielholz said in the report that Swiss Re could consider “inorganic growth” for divisions that do not pertain to its core business of reinsurance. He added that he sees no reason for any transactions in the group’s core business.
The newspaper pointed out that Swiss Re’s Corporate Solutions unit currently has more than 2,000 employees. Swiss Re has a market cap of CHF 34.476bn.
Neue Zuercher Zeitung