Corporate History 2006-2007
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In September 2006, Swiss Re announces it will be offering reinsurance cover for private health insurance companies, starting in China and India. |
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In October, Swiss Re announces its intention to acquire UK GE's Life business. |
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In Switzerland, the warmest autumn since records started in 1864 draws to a close. Overall, temperatures were 2.5 to 3.5 degrees higher than normal for the season in the region. |
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In June, Swiss Re sponsors the first Mediterranean earthquake risk bond worth USD 100 million, for the protection against earthquake risk in Turkey, Greece, Israel, Portugal and Cyprus. This is the first time that earthquake risk in these countries has been securitized in the capital markets.
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By signing the United Nations' Principles for Responsible Investment (UN PRI) on 4 July 2007, Swiss Re expands its commitment to sustainability considerations in investment decision making, as already stated in its Group Code of Conduct.
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On 24 September, CEO Jacques Aigrain speaks at a high-level gathering of world leaders on climate change at the UN in New York.
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The subprime mortgage financial crisis of 2007, which has started in the United States during the fall of 2006, becomes a global financial crisis within a year and also affects Swiss Re in November 2007.
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