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Swiss Re falls with reinsurance renewal prices

Swiss Re Ltd. fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round.

By Carolyn Bandel | Updated on January 03, 2014

Jan. 3 (Bloomberg) — Swiss Re Ltd., the world’s second-biggest reinsurer, fell the most in six months in Zurich trading after Willis Re said reinsurance prices slid by as much as 25 percent in the Jan. 1 renewals round.

Swiss Re declined as much as 2.9 percent to 79.70 Swiss francs, the biggest loss since July 2 and valuing the company at 29.6 billion francs ($32.9 billion). That was the worst performance on the Bloomberg Europe 500 Insurance Index. The shares decreased 2.8 percent by 12:27 p.m.

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