Swiss Re says alternative capital cannot replace traditional reinsurers
ZURICH, July 3
ZURICH, July 3 (Reuters) - Swiss Re played down competition from alternative capital in the reinsurance industry on Thursday, and said it was on track to meet its 2011-2015 financial targets.
"With clients expected to continue to rely on reinsurers for services and long-term support, we also believe that alternative capital cannot replace the traditional reinsurance model," the reinsurer's chief executive Michel Lies said in a statement released ahead of an investor day in London.
Swiss Re said it would announce its 2016 financial goals in February. (Reporting by Alice Baghdjian)