Total exposure stands at £125m says reinsurer

Swiss Re has estimated its overall net exposure to Lehman Brothers at approximately CHF 50 million (£25m) and to American International Group (AIG) at approximately CHF 200 million (£100m).

Swiss Re acts as a reinsurer to the AIG Group companies and has invested in various securities issued by AIG. Overnight, the Federal Reserve Board announced that the Federal Reserve Bank of New York is extending a liquidity facility of up to $85 billion to AIG. The reinsurer estimates its exposure (excluding reinsurance) to AIG at approximately CHF 200 million (£100m).

These figures include, in both cases, investments, net purchases or sales of CDS protection as well as credit reinsurance, portfolio CDS, and any other counterparty exposure as of 15 September 2008.

The AIG figures above exclude amounts due to and from Swiss Re under existing reinsurance arrangements with the regulated legal entities.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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