Swiss Re in talks to sell minority stake

Zurich-based reinsurance giant Swiss Re is in talks with Japanese conglomerate SoftBank Group regarding a potential minority investment in the reinsurer, according to a Feb. 7 statement.

The company added that the negotiations are at a "very early stage".

"There is no certainty that any transaction will be agreed, nor as to the terms, timing, or form of any transaction," Swiss Re said.

The announcement follows a recent Wall Street Journal report stating that SoftBank is in "advanced talks" to buy a third of Swiss Re's shares that could be worth up to $10 billion or more.

The Softbank Group recently led a $120 million funding round in US insurtech firm Lemonade.

Join us at Intelligent Automation in Insurance - London 2018.  Book by Feb 28th and you could save £300.

More of today's news

SCOR improves rates by 3% at January renewals

Beazley reports 8% reinsurance price rise in US at January renewals

Cyber insurance could be credit negative for insurers: Fitch

XL Catlin appoints CUO international financial lines

Insurtech Indio raises $6m in expansion move

Four high-rise buildings partly collapse in M6.4 Taiwan earthquake

Australia’s Insurance Council Board appoints three directors

Don't miss our insurtech email newsletter - sign up today