Company Profile: Swiss Re UK

Swiss Re UK increased its gross premium income by 51% to £173mn in 1999. Although this increase reflects the high number of multi-year contracts that the company had entered into over the previous two years, there was also significant growth in the renewal of annual policies and the acquisition of new accounts. Particularly so in Swiss Re UK’s core business areas of property/casualty, marine and aviation reinsurance. The vast majority of multi-year policies were bought against casualty risks. Indeed, the casualty account recorded the biggest increase with premium income up by 84% from £37.9mn to £69.7mn. But the property account increased its gross premium by 52% to £57.5mn and the combined marine and aviation account by 18% to £45.8mn.