From the beginning of 1999 'Schweizer Rueck' is marketed under the new global name, 'Swiss Re'.
Inauguration of the new North America Division headquarters in Armonk in June 1999. The spacious premises designed by Swiss architect Doelf Schneebeli are located approximately 50 kilometres outside New York and provide space for Life, Non-Life and holding companies.
Swiss Re launches an e-business platform for clients wishing to gain direct access to company know-how.
The end of December 1999 sees the most severe storms in Europe since 1990. On 26 December 1999 Lothar reaches northern France, southern Germany and Switzerland. The next day Martin also tramples through, this time further south, across central and southern France, northern Spain, Corsica and northern Italy. The winterstorms Lothar and Martin are going to be the costliest in France's history.
In mid 1998 Swiss Re shifts to a divisional organisational structure. Structuring the company according to regional markets leads to the creation of the following new divisions: Latin America, Asia, Europe and Reinsurance & Risk.
In an attempt to continue its policy of focussing on reinsurance and the management of capital and risk, Swiss Re negotiates several large acquisitions in 1998: market expansion in the Credit insurance sector allows Swiss Re to acquire a majority stake (90%) in the Dutch company NCM Holding. With the takeover of the Mexican reinsurer Reaseguros Alianza S.A. and the American Life Re Corporation Swiss Re reinforces its market position both in Latin America and in the North American Life sector. It also opens a new line of business known as Admin Re (R). The Group Company Audatex Holding AG is sold.
In 1998 Union Re Zurich, and Swiss Re merge. Swiss Re had already acquired a majority holding in this company from Union Bank of Switzerland, Swiss National Insurance Company and Zurich Insurance Company in 1988. Union Re's Europe and Asia-Pacific non-life business units are integrated into Swiss Re's newly established Europe and Asia Divisions.
The Capital Partners Division is founded in 1998. The founding of this new division signals Swiss Re's increasing involvement in company holdings. In assuming responsibility for the holdings of investment company Securitas Capital and Fox-Pitt, Kelton investment bank, Swiss Re Capital Partners reinforces its core reinsurance business by expanding its investment know-how. This is indicative of a general trend towards increased focus on banking activities and asset management. Swiss Re takes over London-based Fox-Pitt, Kelton Group in spring of 1999.
'Tuefihaus' in Sood-Quartier, Adliswil (Zurich) is opened in March 1998. This administration building houses 350 employees and represents the growing importance of Adliswil in the service sector. Construction is severely delayed due to protracted efforts to clean up residual pollution from the site of the 19th century spinning mill.
The increasingly international, global nature of the company's business creates the need for comprehensive risk financing solutions for large losses and catastrophes, also covering the new area of financial risks. The ART (Alternative Risk Transfer Markets) Division established in 1995, offering financial services and risk counselling to insurance companies, appears under the new name of Swiss Re New Markets from mid 1997. Services are also extended to include comprehensive balance sheet management, inter alia. The Division moves into premises in Gotthardstrasse 43.
After becoming heavily involved with Unione Italiana di Riassicurazione in 1996, Swiss Re Group concludes a 100% takeover of the company by the end of 1997. The company is christened Swiss Re Italia following its integration the Group.
Walter B. Kielholz, CEO of Swiss Re from 1997-2002.
In December 1996 Swiss Re again acquires Mercantile & General Re Group with head office in London (1300 employees, 27 branches world-wide), thereby continuing to implement its strategic objectives of expansion in the Life and Health sector. M & G was part of Swiss Re from 1916 to 1968. This new move makes Swiss Re world leader in this attractive market and reinforces the company's presence in North America. The Life sectors are combined to form Swiss Re Life & Health with head office in London.
On 1 January 1996 the American, Heidi Hutter, becomes the first female member of the Swiss Re Executive Board.
New Swiss Re's Office in Kuala Lumpur (Malaysia) opens.
Swiss Re signs the 'Statement of Environmental Commitment by the Insurance Industry' in 1995 in the context of the UN's Environmental Programme (UNEP). Swiss Re's seminars and conferences, publications, its establishment of a Climate and Environment Steering Committee and its energy and environment mission statement combine to make it a leader in the field of sustainability.
The Great Hanshin earthquake in Kobe on 17 January 1995 measures 7.2 on the Richter scale. It devastated whole neighbourhoods and caused major damage to infrastructure, particularly harbour facilities. Six thousand people were killed, 30,000 injured and 300,000 rendered homeless. Total damage was estimated at USD 147 billion, of which only USD 4.1 billion was insured.
Swiss Re acquires the Alhermij Group, Amstelveen. Swiss Re pursues a strategy in which Life and Health insurance are to be developed as key pillars.
From 1 April 1995 Swiss Re embarks on a process to reinforce the integration of its group companies. Foreign nationals are admitted to the Swiss Re Executive Board as part of this process. At the same time the company's various areas of responsibility are reorganised in line with client and market requirements.
In 1995 Swiss Re launches its new corporate design (Corporate Identity) world-wide. All Group Companies, with the exception of Union Re and Bayerische Rueck, now carry the new logo.
Swiss Re Group launches itself on the World Wide Web in 1995 by installing its own Internet server.
The economic and technical analyses of insurance data published under the name 'sigma' since 1968, enjoy an exceptional reputation in the insurance world and amongst specialists in the industry. In 1995 and 1997 the renowned professional journal 'The Review' awards this economic research series the title of 'Analyst/Researcher of the Year'.
As part of a strategic reorganisation Swiss Re decides to concentrate more exclusively on reinsurance, the prospects of which are judged to be more favourable than direct insurance business.
From 1994 onwards, Swiss Re goes ahead with selling its majority holdings in direct insurance companies. The Holdings Vereinte and Magdeburger, in Lloyd Adriatico, Triest and the ELVIA Group are transferred to the Allianz Group on 1 January 1995.
The Winterthur Group takes over SCHWEIZ Seguros, Barcelona and SCHWEIZ Italia as well as ELVIA's majority stake in the LA EQUITATIVA Group.
The Northridge earthquake, occured on January 17, 1994, close to Los Angeles, California, caused an estimated $20 billion in damage, making it one of the costliest natural disasters in U.S. history.
Lukas Muehlemann, CEO of Swiss Re from 1994-1996.
Swiss Re moves into new office premises in Sood-Quartier in Adliswil due to lack of building space in Zurich.
The '1992 strategic orientation' statement declares Swiss Re to be a comprehensive global insurance corporation operating mainly in the reinsurance and direct insurance sectors, complemented by activities in the related areas of risk management and claims handling.
Swiss Re's strategic management organisation and personnel are separated from headquarters in Zurich from 1 January 1993.
In 1992 Swiss-Baltic Reinsurance Advisers, a Swiss Re outpost in Tallinn, Estonia, starts business. This is Swiss Re's first move into the Baltic States after the fall of the Iron Curtain.
In August 1992 hurricane 'Andrew' struck the northwestern Bahamas, southern Florida at Homestead (south of Miami), and southwest Louisiana around Morgan City and caused tremendous damages.
Swiss Re acquires a majority stake in the ELVIA Swiss Insurance Company, Zurich. Following a restructuring of domestic insurance the Swiss insurance business of SCHWEIZ Allgemeine Versicherungs AG in Adliswil is transferred to ELVIA.
Arnold W. Saxer, managing-director of Swiss Re from 1990-1994.