Swiss Re enters Lead Umbrella marketplace in the US, offering net capacity for large corporate accounts

09 June 2009, New York

Swiss Re now offers Lead Umbrella coverage to retail brokers and risk managers in the United States. Customers working with Swiss Re receive customized solutions backed by net capacity that is rated among the highest in the industry. Lead Umbrella coverage from Swiss Re’s Industrial Risk Insurer (IRI) is available on an admitted basis in 46 states and underwritten by North American Elite Insurance Company, a member of the Swiss Re Group.

“We’ve introduced our Lead Umbrella product in order to directly respond to demands from our customers and the marketplace,“ said Daniel Vetter, Head of North America Casualty for Swiss Re’s insurance operation.  “Swiss Re’s underwriting expertise and experience with large corporate accounts enables us to partner with clients and provide tailored solutions to fit their requirements for catastrophic coverage.”

Lead Umbrella policies from Swiss Re provide worldwide coverage under a stand-alone agreement with a minimum premium of USD 250 000.  Swiss Re utilizes strong industry expertise and technical underwriting capabilities to provide the optimum coverage to meet each client’s risk management needs. Clients also have the potential to receive additional capacity from Swiss Re on an excess basis.

Focus industries for Swiss Re’s Lead Umbrella offering include manufacturing, industrial conglomerates, real estate, the service industry, wholesale trade and retail.  A highly-talented claims department, with extensive experience handling catastrophic liability claims, supports the Lead Umbrella product offering. 

For more information on Swiss Re’s Lead Umbrella offering and other broad, global insurance capabilities, please visit http://www.swissre.com/insurance/.

Notes to editors

Swiss Reinsurance Company Ltd

Swiss Re is a leading and highly diversified global reinsurer. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.

Swiss Re’s Industrial Risk Insurer (IRI)

Swiss Re’s Industrial Risk Insurer (IRI) offers innovative, high-quality insurance capacity for single and multi-line programs worldwide from its offices in the United States, Zurich, London, Toronto, Singapore and Sydney.  IRI offers its capacity on a stand-alone basis, or as part of structured and tailor-made solutions. In addition, IRI provides customized risk transfer solutions to large (multi-national) corporations across the globe to assist in mitigating their risk exposure.  IRI is a member of the Swiss Re Group, a leading and highly-diversified global reinsurer founded in 1863. To learn more, visit http://www.swissre.com/insurance/.