ZURICH (Reuters) - Swiss Re remains on the lookout for partnerships that offer the chance to distribute insurance linked to other companies’ products, Chief Executive Christian Mumenthaler told German paper Handelsblatt in an interview published on Tuesday.
That was the idea behind talks with Japan’s Softbank which eventually proved unfruitful, he said.
“Above all we were interested in the innovative digital aspects, not so much on their taking a significant stake in Swiss Re,” he was quoted saying.
While it may not be wise to rely heavily on a single ally, the Swiss reinsurance group still liked the idea of using distribution partnerships, he said.
“Of course you have to seek new possibilities to market insurance over other channels more efficiently. This is an attractive idea that has not died here in house,” he said.
“It doesn’t necessarily have to be cooperation with a technology group, but rather with companies whose products consumers like to buy and with which an accompanying insurance makes sense.”
Reporting by Michael Shields; Editing by Kirsten Donovan