Throughout its history, NewRe has embodied the same uniqueness and agility that characterise it today. Now nearly 100 years young, the company looks proudly to its past while having its sights firmly fixed on the future.
On 22 February, Neue Allgemeine Versicherungs- und Rückversicherungs AG (“NewRe”) is founded in the Kaufleuten restaurant in Zurich. The business will focus on fire and theft insurance within Switzerland, and reinsurance in all areas in civilised countries.
While the primarily insurance business does not pay off, reinsurance exceeds sales targets already in the third year. In 1937, NewRe closes its primary insurance operations to focus solely on reinsurance.
NewRe moves its headquarters from Zurich to Geneva. Despite the difficulties and restrictions of World War II, the reinsurance business is satisfying. Between 1941 and 1944, the dividend rises by 6%.
Due to expansion in the US, premiums reach CHF 83 million in 1955. That same year, a branch office opens in Australia. In 1976, NewRe celebrates its 50th anniversary and adds an extra 2% to the 1976 dividend to mark the event.
NewRe shifts its concentration to Europe, and adds non-proportional, or excess-of-loss, reinsurance to its traditional property and casualty offerings.
To develop financial solutions for life reinsurance clients, NewRe opens a Zurich office for Financial Solutions Life and Health.
In response to market demand, the company decides to focus on broker and excess-of-loss business and structured reinsurance.
To have direct access to qualified staff, NewRe decides to relocate to Zurich. In September 2010, it moves into the newly renovated Abraham building in Seefeld.
Product segments are expanded to include tailored capital optimisation transactions and other complex reinsurance solutions.
The goal of the new units is to bundle the Group’s expertise and resources in developing unconventional risk transfer solutions, derivatives and parametric trigger covers.
NewRe proudly boasts around 120 reinsurance experts in four business areas.