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The Value of RiskSwiss Re and the History of Reinsurance$
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Harold James, Peter Borscheid, David Gugerli, and Tobias Straumann

Print publication date: 2013

Print ISBN-13: 9780199689804

Published to Oxford Scholarship Online: April 2014

DOI: 10.1093/acprof:oso/9780199689804.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 23 January 2022

Crossing ‘The Pond’

Crossing ‘The Pond’

Chapter:
(p.260) Chapter 14 Crossing ‘The Pond’
Source:
The Value of Risk
Author(s):

Harold James

Peter Borscheid

David Gugerli

Tobias Straumann

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199689804.003.0015

General director Charles Simon was to dominate the company for the following decades. Business had so far been conducted out of Zurich. In the case of the US, this became increasingly cumbersome and ineffective. In addition, an increasing number of US states introduced new regulations for foreign companies to curtail the outflow of capital. Swiss Re had to make a choice: either to remain a small player in the US market or to set up a subsidiary. After several failed attempts, Swiss Re was able to form a joint venture with the renowned London insurer Phoenix and in 1910 founded its first overseas office in New York. The decision to set up shop in the US had also been delayed by the San Francisco earthquake which consumed nearly all of the company's reserves.

Keywords:   geographical expansion, San Francisco earthquake, Charles Simon, joint venture

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