Swiss Re: 'Life Capital' business unit to be disbanded

(CercleFinance.com) - Swiss Re announced on Friday that "Life Capital", its primary insurance business (B2B2C) and corporate insurance (B2B), its smallest business in terms of premiums, will be disbanded.


The Swiss reinsurance giant justifies its decision by the recently completed sale of ReAssure, its subsidiary specialising in portfolios closed in the UK, which hugely reduced the scope of the "Life Capital" division.

As an immediate result, Thierry Léger - who had been CEO of the division - has been appointed Group Chief Underwriting Officer
.
The dissolution of the Life Capital business is expected to be completed by the end of the year.

Note that Swiss Re also announced on Friday a strategic partnership with LocalTapiola, a Finnish insurance company, to which it will give access to its network of partners.


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