1864 – 1910

San Francisco
New York

United Arab Emirates, United Arab Emirates

Since its first business year in 1864, Swiss Re has reinsured portfolios of European ceding companies which include US risks. These risks increased in number in the 1890s. From 1895 on, more and more states along the East Coast and in the industrial regions passed laws stating that only companies licensed in the US could practice reinsurance business. In 1899, therefore, Swiss Re considered setting up a branch in the USA or restricting itself to reinsurance business in the "free," primarily West Coast, states. It decided for the latter.

In the wake of the horrendous San Francisco Earthquake in 1906, Swiss Re decided to cease writing fire business on the Pacific Coast as it was deemed too risky. It continued, however, to participate in marine treaty business. Swiss Re adopted a highly cautious approach to offers of reinsurance which comprised American risks. It was not until the end of 1909 that it modified its attitude to the American market, starting to accept Pacific Coast fire business again and deciding to apply for a licence to conduct business on the East Coast. This latter move resulted in Swiss Re establishing the first branch office in New York in 1910.

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