Swiss Re unlikely to be major player in M&A
Friday, 10 30 2015, Category: Insurance and Reinsurance, Country: World
Swiss Re is not on the look-out for major purchases in the reinsurance market, the group's finance chief told Reuters on Thursday.
"It's not likely that we would be a major participant in industry consolidation or M&A (mergers and acquisitions) on the reinsurance side," Chief Financial Officer David Cole said in an interview.
Cole also said repurchasing shares, as opposed to a special dividend, was now a more attractive way to return excess capital to investors. The reason is that Swiss Re has exhausted a rule under Swiss law that let it return cash to shareholders on a tax-free basis, Cole said.