Swiss Re reiterated the focus on its 2011-2015 financial targets at its London Investors'Day yesterday saying it is well positioned to benefit from unique business opportunities. The new structure enables Swiss Re to achieve better accountability and transparency and to improve decisively its capital management by redeploying capital to opportunities that offer higher returns.
Michel M. Liès, Swiss Re's g ceo, said "We continue to manage the Swiss Re Group along our existing strategy, with a focus on our strong client franchise, best-in-class underwriting and prudent asset management. Unique growth opportunities and the dynamic set-up of our three Business Units–Reinsurance, Corporate Solutions and Admin Re–mean that we are well positioned to outperform the market."
Swiss Re has excellent opportunities to deploy capital across the three Business Units in developed and emerging markets. Together with regulatory changes, Swiss Re believes, this will create the ideal conditions for Swiss Re to outperform.
George Quinn, Swiss Re's g cfo, said "The new segmental structure improves the transparency of Swiss Re's Business Units and increases earnings visibility. Furthermore, the new set-up enables the movement of capital in the Group towards those areas with higher returns, both through new business decisions and by extracting dividends from existing portfolios."
Proven underwriting, risk and asset management framework
Underwriting, risk management and asset management are key enabling units in the new set-up and run across the Business Units, providing consistency and ensuring that Swiss Re's hallmarks are maintained. Swiss Re benefits from best-in-class people and systems and a deep expertise in Research & Development that provides a competitive advantage. The new structure allows the company to operate in a more agile and innovative way, while ensuring that Group oversight is maintained.
"Swiss Re is well positioned to achieve its financial targets, based on its ample capacity for new business opportunities in developed and emerging markets, its leadership in underwriting competence, as well as a prudently positioned asset portfolio, thus offering a unique proposition to shareholders," concluded Liès
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