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Swiss Re fills the billionaire’s grave: The startup accumulates large losses
Who will want insurance coverage suppliers sooner or later? About ten years in the past, existential fears led Swiss Re to start out a brand new enterprise. Now these must be canceled once more with nice loss – as a result of the whole lot turned out otherwise.
Swiss Re’s outgoing boss Christian Mumenthaler is curbing his entrepreneurial spirit earlier than he leaves.
Swiss Re is plugging previous loss holes. On Thursday, the insurer introduced the divestiture of startup Ipitq as a part of its quarterly earnings name. Swiss Re based Iptiq 9 years in the past out of worry that it might develop into out of date if the world not wanted reinsurers.