Swiss Re denies Agnelli acquisition

Swiss Re, one of the world’s largest reinsurers, has denied that it is in discussions with Italy’s Agnelli family, the founders of Fiat and who hold substantial investment portfolios, over the acquisition of a stake in Swiss Re.

In a statement, the reinsurer said: “Contrary to market speculation, Swiss Re is not in discussion with the Agnelli family or any of its investment vehicles regarding the possible acquisition of a stake in Swiss Re.”

Amid rumours that a trust owned by the Agnelli family was looking to purchase a stake in Swiss Re, the company’s shares rose six percent.