Japan’s Softbank said to aim to be insurance disruptor
Swiss Re announced that it is in talks that may result in it selling a minority stake to Japan’s Softbank Group.
The reinsurer said talks are at a “very early stage”, and that “There is no certaintay that any transaction will be agreed.
The Financial Times quoted a person close to the situation saying that Softbank believes it can enter and disrupt the insurance industry.
Softbank is a Japanese multinational telecommunications group with operations in broadband, fixed-line telecoms, e-commerce, Internet; technology services, finance, media and marketing, semiconductor design, and other businesses.
Last December, Softbank led a $120m funding round for Lemonade, the startup insurer which settled a claim in three seconds, and has bought a 5% stake in Chinese insurance startup Zhong An.
The source told the newspaper Softbank aims to buy a stke of less than 33% of Swiss Re, whose current market capitalisation is $34bn.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet