Corporate History 1911 - 1920

 

previous 1901-1910 1912 1913 1914 1916 1917 1918 1919

 

1912 Swiss Re employs more than 200 people for the first time.
 

  		The Swiss approve the introduction of Accident and Sickness insurance. The same year also sees the introduction of the Swiss Civil Code compiled by the renowned lawyer Eugen Huber. It is notable for its clear and understandable language.
  
  Just before midnight on the night of 14/15 April 1912, the 'Titanic', believed to be unsinkable, collides with an iceberg south-east of Newfoundland and sinks with the loss of 1517 lives. As the map of loss events shows, Swiss Re is also affected by this tragic accident but is able to withstand the burden.
 

Schadenkarte Titanic

 
1913 Swiss Re celebrates its 50th anniversary. Since its foundation it has managed to earn a reputable position among the world’s leading reinsurers and has developed into an internationally active group owning subsidiary companies, holdings and a branch. The company’s investment-related foreign presence is restricted to England and the United States.
 
  Building work is completed on a spaciously designed new office building on Zurich’s Mythenquai. The move to the outskirts of the town takes place on 20 October 1913. It turns out to be a courageous and foresighted step.
  		Altbau, Zürich Mythenquai
 

  		The Swiss Aviator, Oscar Bider, crosses the central Alps by air from Berne to Milan on 13 July 1913 in a Blériot monoplane. After taking off from Berne at 4.08 am in the early morning, he lands, with a stopover in Domodossola, in Milan at 8.42 am.
 
 
1914 The official festivities to mark the Swiss Re’s 50th anniversary are held on 15 May 1914.
 

  		In early August 1914 the assassination of the heir to the Austro-Hungarian throne and his consort in Sarajevo signals the start of the First World War. Switzerland mobilises 220,000 troops to secure its frontiers.
 
  Swiss Re’s international relations pose new difficulties. These are not so much pure insurance problems but rather related to investment policy, exchange and currency stability, foreign exchange transfers and Group organisation. Thanks to a cautious reserve policy, the company manages to emerge from the First World War without having suffered major set-backs.
 
 
1916 Big Ben
  		From the point of view of Group policy, the acquisition of a majority shareholding in the Mercantile & General Insurance Company, London, founded in 1907, is just as important as the opening of the United States Branch in 1910. Partnership with this leading English reinsurance company, which later also operates on an international scale, proves to be extremely valuable.

In the interests of a distinct market segregation, Swiss Re parts company with the now renamed Mercantile & General Reinsurance Company in 1968.
 
  From 1914-1919 Swiss Re, in conjunction with the Red Cross, is instrumental in providing valuable aid in the exchange of prisoners of war.
 
 
1917 In the autumn of this year major companies in Zurich are compelled, in view of the shortage of coal, to curtail the midday break. From 25 October 1917 continuous working hours are also introduced at Swiss Re. A kitchen is installed on the top floor of the office building to provide catering facilities. At first, lunch is served by the female office employees.
 
Refectory
   
  The Board of Directors resolves to double the company’s share capital from 10 to 20 million Swiss francs.
 
 
1918                          

 
  		In Europe the First World War ends on 11 November 1918. The turmoil of war and revolution has altered the face of the world. Altogether a total of 10 million people are estimated to have fallen on both sides.
 
  Expansion of the company’s organisation continues. Legal provisions in the United States compel Swiss Re to establish, in addition to the Prudentia, a second company, the Reinsurance Company Zurich; this is renamed General Re in 1924 and European General in 1929.
 

  		Switzerland is struck by a devastating flu epidemic which claims 21,000 lives.
 
  Hauswache
  		On an autumn morning in 1918, Swiss Re entrances are blocked as a result of the general strike. Although the disturbers of the peace disperse without resistance when the infantry move in, the management orders the creation of a voluntary guard made up of employees to protect the buildings for the next three days.
 
 
1919 The General Meeting resolves to establish a separate foundation for the welfare of employees of Swiss Re and its subsidiary companies. The new institution assumes the task of caring for active and retired members of staff as well as for the widows and orphans of deceased employees.
 
  Charles Simon, an employee of Swiss Re since 1895, is appointed Chairman of the Board of Directors, a position he occupies for 23 years until 22 June 1942, eleven days before his death.
  		Charles Simon
 

  		After the turmoil of the First World War, the League of Nations is set up in Geneva on 20 January 1920 to promote co-operation between nations. The Covenant requires that international disputes be submitted to peaceful settlement with a provision for adjudication or arbitration. But not even the League of Nations can prevent the Second World War. In April 1946, it is dissolved and its legacy passed on to the United Nations.

 

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