Swiss Re commits $5.2m to support COVID-19 relief

Global reinsurer Swiss Re Group has committed CHF 5 million ($5.2 million) to support COVID-19 relief efforts, particularly in developing countries.

CEO Christian Mumenthaler said the contribution is meant to support front line workers and organisations tackling the crisis. The company has asked its staff to make donations through the Swiss Re Foundation to Médecins Sans Frontières. The group will match these donations.

The Swiss Re Foundation will contribute CHF 1 million to the International Committee of the Red Cross, which is providing humanitarian aid in the world's most vulnerable regions. It will also grant CHF 1 million to Médecins Sans Frontières (Doctors Without Borders), which is assisting local health institutions around the globe in providing patient support and training for medical staff. The remaining CHF 3 million will be allocated to other Swiss Re Foundation partners for relief efforts in response to the pandemic.

Mumenthaler, Swiss Re group CEO and trustee of the Swiss Re Foundation, said: “The rapid spread of COVID-19 affects all of us and shows how vulnerable we are as a society. As health systems are struggling in their response to the crisis, our contribution is meant to support those who are fighting on the front lines. The Swiss Re Foundation has well established ties to relief organisations that operate on both a global and a local level, so we are confident the funds will quickly help to provide support where it is needed the most.“