Swiss Re in talks to sell minority stake
Zurich-based reinsurance giant Swiss Re is in talks with Japanese conglomerate SoftBank Group regarding a potential minority investment in the reinsurer, according to a Feb. 7 statement.
The company added that the negotiations are at a "very early stage".
"There is no certainty that any transaction will be agreed, nor as to the terms, timing, or form of any transaction," Swiss Re said.
The announcement follows a recent Wall Street Journal report stating that SoftBank is in "advanced talks" to buy a third of Swiss Re's shares that could be worth up to $10 billion or more.
The Softbank Group recently led a $120 million funding round in US insurtech firm Lemonade.
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