Company profile: European Re of Zürich

European Re of Zürich, a wholly owned subsidiary of Swiss Re, saw its net written premiums rise by a massive 422% to SF8.4mn (US$5.0bn) in 2001. The volume increase was primarily caused by extraordinary intragroup retrocessions and life transactions relating to Swiss Re’s acquisition of US life reinsurer Lincoln Re. Life net written premiums grew by SF6.3bn to SF7.3bn, increasing the segment’s share of European Re’s total volume from 62% in 2000 to 87% in 2001. Nonlife written premiums went up by SF475mn to SF1.1bn.