Acquisition of GE Insurance Solutions and its funding
On Friday 18 November 2005, Swiss Re announced it has agreed to acquire GE Insurance Solutions (GEIS), the fifth largest reinsurer worldwide, from General Electric Company. The transaction was completed on 9 June 2006. The financially attractive acquisition adds a strong franchise to Swiss Re, complementing its own strengths.
Here you will find all information about the acquisition, funding and closing provided in a chronological order:
| 12 June 2006 |
- News release: Swiss Re successfully completes its value creating acquisition of GE Insurance solutions - Slides on closing |
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11 May 2006 |
- News release: NAIC advises how it would preliminarily classify the Swiss Re USD 750 million Hybrid Securities for purposes of statutory risk-based capital requirements of US insurance investors |
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10 May 2006 (evening) |
- News release: Over-allotment option for Swiss Re's global offering has been excercised |
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10 May 2006 (morning) |
- News release: Swiss Re prices successfully its rights and global offering at CHF 92.25 per share |
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9 May 2006 |
- News release: Swiss Re shareholders subscribe for 50% of new shares in rights offering and Swiss Re announces the size of its global offering |
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4 May 2006 |
- News release: Swiss Re successfully places USD 2.0bn equivalent of hybrid securities |
| 27 Apr 2006 |
- News release: Swiss Re announces launch of capital offerings - Additional information |
| 21 Apr 2006 |
Annual General Meeting Further information on the funding of the transaction was given at the AGM (see press release and speeches of Peter Forstmoser, Chairman and Jacques Aigrain, CEO). |
| 02 Mar 2006 |
Annual results 2005 Swiss Re provided information on the activities since the announcement of the transaction and the funding in the presentation of the analysts’ meeting (see slides 26 - 28). |
| 27 Feb 2006 |
Extraordinary General Meeting An EGM was called for the approval of additional equity capital to finance the transaction. Find all documentation released on that event. |
| 18 Nov 2005 |
Announcement of acquisition of GE Insurance Solutions - News release - Analysts’ presentation - Audio/video replay of analysts’ conference call - Fact sheet |
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