The Swiss Re Journey
Since 1863, Swiss Re has helped make risk-taking possible. As perils have changed, our commitment hasn't wavered.
1863
The start of Swiss Re
Records show Swiss Re was founded by Helvetia Insurance, Credit Suisse, Basler Handelsbank, and Schweizerischer Lloyd with a share capital of CHF 6 million in December 1863. Behind the documents, however, were people with a bold vision for a reinsurance company from Switzerland to manage the era's emerging risks.
Moritz Ignaz Grossmann, director of Helvetia Insurance, proposed creating a Swiss reinsurer to keep reinsurance premiums in Switzerland where they could help support the nation's growth and prosperity.
1864
The first office
It all began in a two-room apartment in Zurich’s old town with just a handful of employees.
The house in the middle shows Swiss Re's first office, located on the first floor of Schoffelgasse 1 in Zurich.
1864
Global from the start
After just three months, the young company had already contacted several European insurers as it looked to expand on the continent. By the turn of the 20th century, Swiss Re's treaties extended to clients in Europe, the US, Latin America, Russia, and Asia.
Swiss Re's early covers included protection for fire, marine, and life risks. Casualty reinsurance was taken up in 1880.
1906
Managing early challenges
The 1906 San Francisco earthquake was a turning point for insurance. Despite unprecedented losses, Swiss Re fulfilled commitments to clients while creating the Earthquake Commission with European partners to unify treaty wordings. The disaster also revived aspirations for a US branch, a goal Swiss Re realised in 1910.
The earthquake and fire in San Francisco reinforced Swiss Re's reputation as a financially secure and reliable partner.
1913
Building a new headquarters
Swiss Re's rapid business expansion at home and abroad meant the company was constantly on the lookout for office space. It changed its domicile seven times before finding a permanent home at Mythenquai 60. Swiss Re now has offices all over the world.
In October 1913, Swiss Re moved into its new headquarters on the shores of Lake Zurich. While the campus has grown, this edifice, known as "Altbau", is still used daily by hundreds of employees.
1917
A good employer
From its early years, Swiss Re focused on employee well-being. A welfare fund was established in 1885, and by 1917 an in-house kitchen provided healthy meals to staff. Two years later, an employee association was initiated.
The beginnings of Swiss Re's gastronomy services, photographed in the attic of the "Altbau" building.
1920s
Generating business through acquisitions
In addition to winning new clients, acquisitions drove Swiss Re’s early growth. In 1916, the company secured a majority holding in UK reinsurer Mercantile and General (M&G). Less than a decade later, Swiss Re acquired control of the reinsurance company Bavarian Re, strengthening its European presence.
Through strategic acquisitions, Swiss Re increased its net premiums while simultaneously strengthening its capital base.
1930s
Capital strength
With the economic swings of the 1920s & 1930s, asset management and exchange rates played a role in the company's business. Though Swiss Re could rely on a traditionally strong Swiss franc, managing currency risk was key. By accessing reserves, Swiss Re upheld its reputation for stability despite a record loss in 1931.
Advertisement highlighting Swiss Re's financial strength.
1942
Social responsibility
Swiss Re has a long tradition of partnering with international organisations in times of great need. During World War II, Swiss Re's Marine department organised sea voyages for the Red Cross, enabling prisoner of war camps to receive supplies.
Swiss Re has been committed to offering help where insurance solutions could not reach.
1950s
New offices worldwide
From the 1950s, Swiss Re extended its operations in South Africa, Canada, Australia, and Asia. In later waves of expansion, service companies were opened in Latin America.
International from the start, Swiss Re steadily strengthened its global presence as we sought new partners and diversified our risk selection to protect more people.
1960
Embracing technological innovation
Swiss Re's data and tech journey started early, first with slide-rule calculators before punch-card processing arrived in 1925. The IBM 650, the first mass-produced computer, was another leap forward in our commitment to innovation. Our data-focused culture still defines how we provide solutions to clients today.
The IBM 650 in use at Swiss Re proving a drive for technological innovation.
1960
Supporting with know-how
With Swiss Re's expansion, opportunities emerged to deepen insurance expertise. To promote training, especially for professionals from emerging markets, Swiss Re founded the Swiss Insurance Training Centre (SITC) as a trust in 1960. People from 80-plus countries attended SITC courses during its first 25 years in operation.
Participants attend a general insurance course in the late 1960s.
1968
Economic research
Swiss Re’s economics department, founded to provide clients with industry news and actionable insights, launched its first sigma publication in 1968. Today, sigma continues, with deep-dives into insurance themes. It is accessible via our web application sigma explorer.
Swiss Re's flagship sigma publication continues to deliver industry relevant insights.
1979
Setting the agenda
As environmental catastrophes captured greater attention from the 1960s onward, Swiss Re paired business solutions to address the resulting damage with data-driven publications to help inform public discussion and debate on related challenges.
As early as 1979, Swiss Re raised awareness how ecological perils were shaping the risk landscape.
1980s
Risk is our business
By the 1980s, Swiss Re's activities were shaped by a deepening awareness of complex risks. We expanded our risk management strategy significantly, including the acquisition of specialised partners to boost expertise in captive management, risk advisory and risk engineering services.
With risks becoming larger, Swiss Re developed novel ways to assess a new generation of risks.
1990s
A new strategic orientation
In the 1990s, Swiss Re adopted a global "one-company" approach concentrating on its core business. This led to a focus on reinsurance and a divestment of holdings in direct insurers. In parallel, Swiss Re embarked on a process to integrate its group companies, such as Union Re, and to strengthen its brand globally.
The big transformation process from a multi-national to a global company.
1990s
Alternative risk transfer
Massive losses from Hurricane Andrew in 1992 exposed a global shortage of risk capital. To better manage mounting natural catastrophe losses, Swiss Re incorporated alternative risk transfer products into our offerings, a move supported by an investment in the specialised catastrophe reinsurer Partner Re.
Swiss Re took a leading role with Insurance Linked Securities (ILS), including catastrophe bonds.
1995
A matter of Life & Health
From 1995, Swiss Re systematically expanded its Life & Health reinsurance business, first in Europe, then in the US. Among the most important re-acquisitions was the Mercantile & General Re Group (M&G) in 1996, a business that Swiss Re had separated from nearly 30 years earlier.
Swiss Re has built on a long-standing reputation in underwriting life and health risks.
1996
Swiss Re goes online
The internet era began for Swiss Re in 1996, when we started to share information about the organisation, press releases as well as our publications over this rapidly expanding digital channel.
Swiss Re’s first website.
2001
Dealing with a new spectre
The terrorist attack of 11 September 2001 created the costliest insured man-made loss for the insurance and reinsurance industry. The attack underscored the complex nature of assessing insurance coverage and led to a re-thinking of the full dimensions of risk.
The 9/11 attack revealed a new dimension of international terrorism with unprecedented threat scenarios and loss potential on a previously inconceivable scale.
2004
Corporate architecture
The opening of Swiss Re London's headquarters 30 St Mary Axe reflected Swiss Re's significant presence in the UK market. The iconic building in the London skyline – known affectionately as "the Gherkin" – demonstrates how art and architecture contribute to Swiss Re's brand and identity.
Making the invisible reinsurance industry visible: Swiss Re's signature architecture.
2005
Hurricane Katrina
Hurricane Katrina struck New Orleans (US), inflicting significant loss of life and causing devastating damage. The immense losses prompted the industry to reassess its risk-absorbing capacity and inspired adjustments in disaster risk modelling. Katrina was also a reminder of how risks evolve, and new challenges emerge.
Hurricane Katrina remains the highest loss-making natural catastrophe to date and was a watershed event for the global re/insurance industry.
2008
Successfully navigating in times of crisis
As the 2008 financial crisis upended global markets, Swiss Re was among large insurers and reinsurers that suffered losses on structured finance products. With the strength of its core business and strategic international partnerships, Swiss Re's base retained its resilience.
Swiss Re regained its position among the top league of reinsurers.
2011
A new leadership structure
Swiss Re established a new holding structure, with Reinsurance joined by Corporate Solutions and Admin Re to underscore a complete portfolio for a broad range of partners including insurers, corporate clients and pension funds.
As different aspects of our industry converged, Swiss Re reshaped itself to meet the needs of a broad range of clients.
2019
The pandemic era
The emergence and spread of COVID-19 left a deep impact on society, governments and economies across the globe, forever changing the lives of millions of people. As Swiss Re fulfilled commitments to those impacted by the outbreak, we reconfirmed our role as a reliable partner in shouldering global risks.
Swiss Re and the re/insurance industry provided billions to mitigate the financial impact of the pandemic.
The 2020s
A new era of change
The pace of change is growing, as alliances are reordered in a multipolar world. Weather-related hazards exact higher economic costs as urbanisation continues, while demographic changes and political shifts bring new uncertainty. Now more than ever, risk takers need strong partners – partners like Swiss Re.
Strong partnerships remain essential – especially in a multipolar world.