Brendan Plessis, Head of Emerging Markets said,“ “We recognize the tremendous opportunities in a number of high growth markets to help build resilience by driving (re)insurance penetration and believe this is the right time to further strengthen our team.” ”
 

Group Chief Executive Officer, Christian Mumenthaler, said: “2017 was clearly a challenging year for the industry – and Swiss Re. However, we believe the outlook for our industry is now more positive than it has been during the last four years.”

Denis Kessler, Chairman & Chief Executive Officer of SCOR, commented: “2017 was marked by an exceptional series of major natural catastrophes. The Group is fully mobilized to reach the strategic targets set out in “Vision in Action”.

A media report, citing sources familiar with the matter, said the deal under discussion was for the purchase of up to a third of Swiss Re’s shares at a premium. Such a deal would make SoftBank the largest investor in the reinsurance group.

Victor Peignet, CEO of SCOR Global P&C, commented: “SCOR has a strong position in the 2018 renewals, resulting from the Group’s multiple recent rating upgrades, a client-by-client approach, and the expansion of our capabilities as described in our ‘Vision in Action’ plan. We negotiated to reduce, cancel or decline business that did not meet our hurdles without damaging our franchise. As a result, our portfolio renewed in January is both larger and more profitable while still being well-diversified.”