Swiss Re in talks to sell stake to SoftBank; deal said worth US$10 bil

TOKYO (Feb 8): Swiss Re said it is in preliminary talks to sell a minority stake to SoftBank Group - a deal that reportedly could be worth US$10 billion ($13.3 billion) or more, in what would be the Japanese firm's biggest financial services deal to date.

The potential sale of up to one third of the Swiss reinsurer at a premium as reported by the Wall Street Journal would also mark the broadening of already sky-high ambitions that have already seen it raise US$93 billion to form its Vision Fund for technology investments.

"Swiss Re informs that it is engaged in preliminary discussions with SoftBank Group Corp regarding a potential minority investment in Swiss Re," the world's second largest reinsurer said.

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