Softbank in talks to buy stake in Swiss Re

Share

"Swiss Re informs that it is engaged in preliminary discussions with SoftBank Group Corp regarding a potential minority investment in Swiss Re", the world's second largest reinsurer said.

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

Cubs sign Yu Darvish to six-year, $126 million contract
One of the most anticipated signings from Japan in league history, Darvish is 56-42 with a 3.42 ERA in 131 career starts. While it took a while for Darvish to sign, the Cubs were among the favorites for her services throughout the offseason.

The Japanese investment conglomerate is eyeing a stake in Swiss Re that could be worth as much as $10 billion, according to a Wall Street Journal report, which first reported the talks.

Shares in Swiss Re, which has a market capitalisation of around 33 billion Swiss francs ($34.94 billion), were more than 4 percent higher by 1223 GMT.

Sioux City seeks better compliance with emergency snow route policy
Once snow depth has reached 2 inches, parking is not allowed on any marked snow routes until the snow has been cleared. The City of Monona has declared a Snow Emergency effective 11:59 PM Thursday, Feb. 8 through noon Saturday, Feb. 10.

Swiss Re is one of the biggest reinsurers in the world and has been in operation for over 150 years. A spokesman for SoftBank didn't immediately respond to requests for comment.

SoftBank founder Masayoshi Son has said he wants to build a group of industry-leading companies that, powered by technological advancements in artificial intelligence and interconnected devices, will endure for 300 years. ("SoftBank") regarding a potential minority investment in Swiss Re. However, "there is no certainty that any transaction will be agreed". Recently, however, the industry has faced some major challenges. Exor NV, the investment company for Italy's Agnelli family, bought control of Bermuda reinsurer PartnerRe Ltd. two years ago as a way to diversify holdings, which range from Fiat Chrysler Automobiles NV to the publisher of the Economist magazine. But it said expected a rise in insurance premiums, especially in disaster-hit areas, would help it recover. Getting into insurance in a disruptive way, like their acquisition of Lemonade which uses AI to accelerate claims processing does make sense, but not traditional reinsurance.

Shahid Afridi insists on posing with Indian flag, wins hearts on Twitter
Fans are always eager to get a glimpse of him and to get a picture clicked with him and it happened yesterday too. Afridi enjoys a huge fan following not only in Pakistan but also in other parts of the world, especially India.

Form for signing up for free newsletter.

Share