Struggling Swiss Re is rumoured to be adopting a new strategy in an attempt to boost the reinsurance giant's flagging fortunes. A possible new game plan was mooted at a recent Institute of Financial Services seminar, staged after the news that Swiss Re's share price dropped by 8%.

Commerzbank Insurance analyst Chris Hitchings noted the gathering was "knee deep in Swiss Re people". He said he had been given instructions by the top brass at Swiss Re to pass on to employees at the seminar. "I've got a message from your CEO, stay here because you're losing less money."