Swiss Re expects a 'gratifying' year
Article Abstract:
Swiss Reinsurance Co.'s CEO, Walter B. Kielholz, commented 1998 should be another gratifying year for the company, with a further boost in profits and as the company continuously shows sound earnings performance. The company posted SwF2.12 billion in net profit in 1997, up 45% from the company's net profit of SwF1.46 billion in 1996. Likewise, Swiss Reinsurance achieved SwF17.41 billion in gross premium volume in 1997, up 22% from the company's SwF14.25 billion in gross premium volume in 1996. The company's 1997 financial results were fueled by capital investment and purchases under uncommonly favorable financial-market situations.
Comment:
Its CEO, Walter B. Kielholz, says 1998 should be another gratifying year for the company, with a further boost in profits
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Swiss Re to acquire Life Re Corp
Article Abstract:
Swiss Reinsurance Co. has agreed to pay about $1.8 billion to purchase US-based Life Re Corp., a move that continues the merger in the global reinsurance industry. The deal will make Swiss Re the leading US life insurer in terms of policies in force and also boosts the company's global life and health reinsurance operation. Life Re, on the other hand, will be provided by Swiss Re with the financial leverage needed to expand in the fast-rising, capital-intensive segment of administrative reinsurance.
Comment:
Agrees to pay about $1.8 bil to purchase US-based Life Re Corp, a move that continues the merger in the global reinsurance ind
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Texas Pacific to acquire Swiss Bally.l
Article Abstract:
Texas Pacific Group has reached an agreement to acquire Oerlikon-Buehrie Holding AG's Bally fashion house. Texas Pacific has promised to make Bally into a major shoemaking firm once again by making heavy investments in worldwide marketing and in the development of brands. The price of the deal was not made available. Texas Pacific will acquire Bally without any debt as Oerlikon will assume approximately 200 million Swiss francs of the shoemaker's debts.
Comment:
Texas Pacific to acquire Oerlikon-Buehrie's Bally fashion house
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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