(Bloomberg) – Swiss Re AG's chief said the reinsurer would welcome an anchor investor after being approached by billionaire Masayoshi Son's SoftBank Group Corp.
In a business where results can change radically from one year to the next, "it's not a bad thing to have an anchor shareholder," Christian Mumenthaler said at a conference in Zurich. he said. "If you ask me, just high level, is it attractive? I would say yes."
|Preliminary discussions
SoftBank wants to buy as much as a third of Swiss Re, according to people with knowledge of the matter. While the reinsurer has confirmed what the CEO called "very preliminary" discussions with the investor — Swiss Re hadn't said any more about what it thinks of the offer.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.