Swiss Re chief financial officer John Dacey has hinted that the company is in discussions with other investors surrounding a potential stake in the Zurich-based (re)insurer.


Speaking on the firm’s first quarter media call this morning, Dacey said - in response to a journalist’s question - that its talks with SoftBank were not exclusive and that other parties, including industry players, may be involved.

“We are not speaking exclusively to SoftBank, but having said that, those discussions are normal both with large corporate groups that might or might not be clients of Corporate Solutions, as well as potential partnerships for other initiatives we have inside the company,” he said.

However, the executive subsequently appeared to dial back his comments in response to a further question on whether its talks with the Japanese investment conglomerate were exclusive.

“We have acknowledged we are in discussions with SoftBank, those discussions are continuing, and I really wouldn’t want to speculate or hypothesise on other discussions that might or might not be occurring,” he said.

Pressed further, Dacey reminded reporters that SoftBank had made the initial approach to Swiss Re and that the parties remained in discussions.

Yesterday, Bloomberg reported that talks between the two companies over the potential investment had stalled over disagreements on the size and price of any stake that could be on offer.

Sources told the publication that while the talks had cooled off in recent weeks, they could be revived with a deal not off the table.