Swiss Re Corporation, an advisory company, is established in New York.
In West Germany the Swiss Re Group gains markets shares in insurance in addition to those in reinsurance.
Despite the war, the company's world-wide connections are maintained almost without exception thanks to Switzerland's political neutrality and good relations. Hardly a treaty is lost, apart from in Eastern Europe. Although there are losses in these markets, Swiss Re gains new markets in Asia and Australia. Business expands from year to year. This can be taken as ready proof of the immense international confidence placed in Switzerland in general and Swiss Re in particular. Economic relations with the countries of Eastern Europe played a major role before the war. They now prove to be increasingly difficult. In Asia and Africa almost 100 independent nations are set up. Many countries come under the effect of new social systems, which calls for a reorientation of business relations.
In conjunction with a foundation set up to effect transport assignments, the Marine department of Swiss Re organises sea voyages on behalf of the Red Cross during the Second World War. In this way the company enables prisoners of war camps throughout the world to receive Red Cross supplies
The Swiss Federal Council assigns Swiss Re the task of handling the technical administration of the 'Federal War Insurance' which covers imported and exported goods against war risks. The principal is the Confederation. The policies are written by over a hundred agencies of Swiss Marine insurers. The liabilities incurred during the war total over 21 billion Swiss francs and more than 10,000 claims are paid.
The restrictions imposed on foreign reinsurers and their branches in the United States compel Swiss Re to set up two further subsidiary companies which, as American companies, receive the same treatment as other US reinsurers. In 1940 the North American Casualty and Surety Reinsurance Corporation and the North American Fire and Marine Reinsurance Corporation are established. In 1956, the two Non-Life subsidiary companies are merged into the North American Reinsurance Corporation. The major part of the business of the US branch is transferred to this new company.