History of SI Re

Founded in 2003, SIGNAL IDUNA Reinsurance Ltd (SI Re) was formed against the backdrop of the US liability crisis, the bursting of the dot.com bubble in 2000 and, finally, the 9/11 terror attacks. The parent company, Germany's SIGNAL IDUNA, and Bertrand Wollner as SI Re CEO, wanted to create a reinsurer known for its reliability. The company was established to be independent of short-term capital market vagaries, thus offering ceding companies a sustainable alternative.


That was the original strategy created by SIGNAL IDUNA and the SI Re management: SI Re mainly positioned itself as a reinsurer for European cedants with a balanced risk/return profile. At the same time, SI Re was to foster client relationships as well as being a stable and reliable partner for its cedants. Since commencing operations, the SI Re strategy has been based on an optimally balanced risk/return structure. 


Its affiliation with a mutual insurer guarantees SI Re a large degree of independence from the capital markets and a robust, unwavering capital base. Moreover, the Group business that has accounted for between 30% and 45% of the portfolio over the years, enables the company to react flexibly to market fluctuations. 


The sustained low interest rate policy adopted by the central banks since the financial crisis in 2008, the resulting capital glut in the reinsurance sector, and the influx of alternative capital to the convergence markets have necessitated strategic adjustments, which have revealed new business opportunities.


SI Re now fosters client relationships with direct insurers in almost all European Union member states. Marine, agricultural and cyber risks have been added to the standard sectors that traditionally made up the portfolio.

SI Re is also structuring increasingly complex and innovative transactions so the management can achieve their goal of supporting ceding companies with structured solutions. 


Furthermore, SI Re has been investing in Insurance-Linked Securities (ILS) since 2010. In 2020, ILS will become a standalone business unit and a second strategic pillar enabling SI Re to diversify, mainly into natural catastrophe risks. 





January 2020

  • Expansion of ILS into a stand-alone business area.


Juni 2019

  • SIGNAL IDUNA increases SI Re’s shareholders’ equity by a further EUR 25 million to EUR 166.9 million in support of the 2019-2023 strategic period.


January 2019

  • SI Re expands its geographic reach to almost all the European Union member states.
  • SI Re starts writing cyber and agricultural risks in all core markets.


January 2017

  • SI Re expands its market presence in Central European markets and writes agricultural risks in selected countries.


May 2016 

  • SI Re appoints Adrian Suter as the new Head of Finance and Accounting.


January 2015

  • Marine business added to the portfolio.
  • SI Re switches its reporting currency from CHF to EUR.


July 2014

  • SI Re appoints Andreas Gadmer to the Executive Board.


December 2013

  • SIGNAL IDUNA again adds CHF 25 million to SI Re's shareholders’ equity to support growth, bringing total shareholders’ capital to CHF 165 million at the end of 2013.


December 2011

  • SIGNAL IDUNA decides to increase SI Re’s shareholders’ equity by a further CHF 25 million in recognition of the company’s growth.


April 2010

  • SI Re enters the ILS business and reinsures selected clients in the United Kingdom.


January 2010

  • Entry to the Spanish and Austrian market.    


July 2008

  • Introduction of the Swiss Solvency Test (SST).    
  • SI Re receives its “A-” rating from Fitch.    


December 2005

  • SIGNAL IDUNA increases SI Re's starting capital from CHF 15 million to CHF 100 million.    


June 2005

  • SI Re appoints Beat Landtwing as CFO.


January 2005

  • SI Re appoints Bertrand Wollner as CEO.    


June 2004

  • SI Re receives its operating licence from the Federal Office of Private Insurance (now FINMA).    


December 2003

  • SI Re is entered in the Swiss Commercial Register.    


July 1999

  • SIGNAL and IDUNA NOVA merge to become SIGNAL IDUNA Group.

SIGNAL IDUNA Reinsurance Ltd

Bundesplatz 1, Postfach 7737, CH-6302 Zug, Switzerland, +41 41 709 05 05,