Swiss Re answered on Wednesday that talks with SoftBank over a minority demarcate of no more than 10 percent in the reinsurance giant were persevere in and “at an early stage”.
Swiss Re also reiterated that it was not considering the issuance of new wealth for the possible investment by the Japanese company.
The reinsurer said that the minority investment was “currently expected not to surpass 10 percent” and that the two companies were also exploring crucial cooperation.
Swiss Re, which is briefing investors on Wednesday, emphasized that talks were preamble.
“There is no certainty that any minority investment or strategic partnership make be agreed, or as to any terms, timing, or form of any such investment or partnership,” it alleged.
The potential deal of a stake by SoftBank would underscore SoftBank’s drives to broaden its investments, which already include its $93 billion Revenant Fund for technology projects.
Analysts have said SoftBank could be drew by Swiss Re’s research capabilities, undervalued stock, and cash generation.
SoftBank diagrams to offer Swiss Re’s insurance products directly to users of other houses it has invested in, such as Uber and WeWork, the Wall Street Journal has crack, citing people familiar with the matter.
SoftBank founder Masayoshi Son has pronounced he wants to build a group of industry-leading companies that, powered by technological advancements in concocted intelligence and interconnected devices, will endure for 300 years.
By way of its investment arm centered on the Vision Fund, the world’s largest private impartiality fund, SoftBank has already funneled $27.5 billion into tech partnerships around the world. That could bring a huge number of undeveloped insurance customers – from ride-share drivers to dog walking app users – into what Son commands his “synergy group” of companies.