Swiss Re Declares Intention to Redeem Berkshire Investment

Swiss Re Declares Intention to Redeem Berkshire Investment

Swiss Re announced annual results for 2009 yesterday and declared that the measures taken in 2009 to rebuild the company’s capital base have been very effective. In a letter to shareholders, Swiss Re Chairman Walter B. Kielholz and CEO Stefan Lippe made comments regarding the company’s capital position and intention to redeem the CHF 3 billion investment made by Berkshire Hathaway last year. Read this article for more details.

Swiss Re Closes Retrocession Transaction With Berkshire Hathaway

Swiss Re has announced the closing of a U.S. individual life retrocession transaction with Berkshire Hathaway. The transaction transfers the risk associated with a block of yearly renewable term individual life insurance contracts written prior to 2004 to a Berkshire Hathaway subsidiary in exchange for CHF 1.3 billion ($1.27 billion). Read this article for more details.

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