SoftBank Aiming to Join Swiss Re Board

SoftBank Aiming to Join Swiss Re Board

SoftBank, a telecommunication and technology company, is seeking a seat in the board of directors of Swiss Re. This came into light when news spread that SoftBank decided to acquire a stake in the reinsurance company.

The Japanese company has plans to acquire a stake of around 20-30% in Swiss Re AG. A source has indicated that the premium paid over the share price of Swiss Re is quite substantial, while other sources have indicated this to be pretty small. The shares of Swiss Re closed at 94.40 Swiss Francs ($101.83) as on Friday.

The Founder and Chief Executive of SoftBank, Masayoshi Son will be meeting the Chairman of Swiss Re, Walter Kielholz, in the forthcoming weeks to discuss a potential agreement. Unlike their other investments, this one will be made by SoftBank itself, not its investment arm. There were other speculations about SoftBank aiming to acquire one third of stake in Swiss Re, which could be potentially valued at $10 billion.

Swiss Re did confirm this news, but indicated the discussions were at a preliminary stage. If this transaction materializes, then the Japanese company will get tremendous cash flow through the premium collection that the reinsurance company undertakes. UBS Group AG is the advisory to SoftBank, whereas Credit Suisse AG is advising Swiss Re. No representative from either company were available to provide comments.

Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.

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