Zurich:
Swiss Re and SoftBank Group Corp. ("SoftBank") have agreed to end discussions about a potential minority investment of SoftBank in Swiss Re, said a press release by the Swiss Re on Monday.
In February 2018, Swiss Re announced it had entered into preliminary discussions with SoftBank Group Corp. regarding a potential partnership and minority investment which analysts had estimated at around $10 billion.
Swiss Re had earlier confirmed that SiftBank’s investment in the second largest global reinsurance company was not expected to exceed 10% of Swiss Re's share capital.
However, Swiss Re said it will continue to implement its technology strategy with a combination of in-house developments and third-party collaborations.
In this context, the company will also further explore business ideas between Swiss Re's operative entities and the portfolio companies of SoftBank.