Corporate History 1961 - 1970

 

previous 1951 - 1960

 

1962 In Melbourne, the Australian Reinsurance Company Ltd. is founded. The new subsidiary company on the rapidly developing fifth continent writes all lines of business.
 

  		The freezing of Lake Zurich – on Swiss Re’s doorstep – in the cold winter of 1962/63 develops into a mass carnival. Thousands of tourists and locals throng onto the 88 square kilometres of ice.
 
 
1963 In Swiss Re’s 100th business year the gross premium income is just under 1.4 billion Swiss francs. Swiss Re has concluded reinsurance treaties with around 1000 companies in 75 countries and there are almost 500 people on the staff.
 
 
1964  

                          

  		In the 1960s, the rock and pop scene is dominated by the Beatles. In 1964 they sell on average 2.5 million singles per month. The Beatles are adopted by an entire generation as a symbol of a way of life.
 
  Swiss Re undergoes reorganisation on 1 July 1964 with the creation of market-oriented departments. Swiss Re's traditional 'branch' structure is discarded in light of the company's increasing division into specialised insurance sectors. This is replaced by geographically based market departments. The traditional 'technical accounting areas' of Fire, Accident and Marine are merged. As part of its centenary celebrations Swiss Re donates a Gottfried Keller memorial to the city of Zurich. A hall of residence is built for the students of the two higher education establishments in Zurich.
 
  SR Logo 1965
  		 
The distinctive logo designed on the occasion of the centenary is retained in the updated corporate design introduced in 1981.
 
   
 
Max E. Eisenring is elected Chairman of the Board of Directors, having been with the company since 1944. Upon his retirement in 1979 he is appointed Honorary Chairman.
  		Max E. Eisenring
 
  A contact office is opened in London to make Swiss Re’s services available to the U.K. market and to permit new business.
 
 
1966 Audatex is set up as a service company in 1966. Operating mainly in highly motorised countries, Audatex is used to calculate the current value of motor cars and motor bicycles and the cost of accident and glass damage.
 

  		In the autumn of 1965, hurricane 'Betsy' causes widespread devastation in the south of the United States. 'Betsy' kills 70 people and causes damage in the states of Florida, Mississippi and Louisiana costing the insurance industry over 700 million dollars.
 
 
1968 Swiss Re opens a new advisory company in Singapore under the name Swiss Re Advisers (Singapore) Pte. Ltd.
 

  		In the summer of 1968, the spirit of youth is kindled in Paris and Berlin and spreads to other European cities, including Zurich. Europe experiences a hot summer.
 
 
1969   Less than a year after severing links with the Mercantile & General Reinsurance Company, London, Swiss Re sets up the Swiss Reinsurance Company (UK) Ltd. in May 1969; the London contact office is disbanded.
 
In August 1969, Swiss Re (UK) starts transacting reinsurance business in Property, Engineering and Accident. Life business is written from 1970, Marine from 1971 and Aviation from 1975, the latter being two major lines of business in which the London market is leader.
  
 
London Bus
 
  Neubau, Mythenquai Zürich
  		A new office building, the 'Neubau', on the site of the former tennis courts on the Mythenquai is completed and opened on 6 June 1969.
 
This office extension, characterised by the greatest flexibility and efficient technical installations provides space for around 500 office workers. In 1971, Swiss Re receives an award from Zurich City Council for the new extension.
 
  On the same day, the new sports ground in Adliswil is opened. The facilities include open-air swimming pool, football pitches, tennis courts and bowling lanes. Members of staff and their families also have at their disposal an indoor swimming pool in the new extension, a library and a full range of leisure clubs for enthusiasts of film and photography, rowing, bowling, netball, stamp-collecting, table tennis, chess, football, boccia and tennis.
 

  		Neil Armstrong is the first man on the moon. After a flight lasting 195 hours, 18 minutes and 22 seconds with the US spaceship 'Apollo 11', Armstrong sets foot on the moon for the first time on 21 July 1969: "That’s one small step for a man, one giant leap for mankind".
 
 
1970 From 1 July 1970, employees benefits from so-called 'flexible' working hours.
 
  The foundation of an advisory company, Swiss Re Advisers, Inc. in New York extends further the advisory and service companies in the reinsurance sector.
 

 

previous 1951 - 1960

 

Back to Top