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Swiss Re earnings drop on Conning sale
17 June 2009
The sale of Conning and Company to private equity firm Aquiline Capital Partners will positively affect Swiss Re, by lowering the reinsurer’s capital requirements.
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The sale of Conning & Company to private equity firm Aquiline Capital Partners will positively affect Swiss Re, by lowering the reinsurer’s capital requirements, according to a research note by Execution. However, the note adds that it will negatively affect the reinsurer’s earnings.
Within Swiss Re’s asset management segment, the company reported SFr75m ($69m) of fees in 2008. Execution analysts say around SFr50m of is was likely to have come from Conning. In...
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