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Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has been named the official insurance provider of Solar Impulse, Swiss Re announced Wednesday.
Solar Impulse is the world’s first purely solar-powered airplane able to fly through the night.
“Swiss Re Corporate Solutions will now support Swiss aviation pioneers Bertrand Piccard and André Borschberg's ambition to fly around the world powered only by solar energy by becoming the sole insurer of the revolutionary airplane,” said Swiss Re in a statement announcing the relationship.
"This partnership is an excellent fit between two organizations who share a belief that innovation can flourish when knowledge and expertise is combined across industries," says Agostino Galvagni, CEO of Swiss Re Corporate Solutions, in a statement. "Swiss Re Corporate Solutions is showing that it has the expertise to match Solar Impulse's needs on a project which will potentially revolutionize the way we power society."
Solar Impulse S.A. is based in Lausanne, Switzerland.
ZURICH (Reuters)—Swiss Re sounded an upbeat note for 2012 and said reinsurance prices could rise further after it posted a forecast-beating profit for the first quarter thanks in part to the absence of large natural catastrophes.