In response to media speculation concerning a possible investment by Swiss Re in China Pacific Insurance (Group) Co. ("CPIC") and an investment by CPIC in Swiss Re, Swiss Re has confirmed that it has been exploring a potential investment opportunity in a possible primary offering of CPIC's securities.
Swiss Re said that "[n]o definitive agreement has been entered into between Swiss Re and CPIC. Any securities offering by CPIC remains subject to various contingencies, including CPIC's decision to proceed with any such offering."
Separately, Swiss Re said, it had no current intention of issuing new shares or making treasury shares available to any potential investor.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].