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Swiss Re Ltd. is one of the main insurers for Autostrade per l'Italia, the company that operated a bridge in Genoa, Italy, that partially collapsed Tuesday, killing at least 38.
In a statement, Swiss Re confirmed it was an insurer for the Rome-based company that operated the stretch of highway that included the Morandi Bridge, but said it would not disclose more information about the insurance contract.
“We are already working with and will continue to support our client in managing the impact of this tragic event on the victims and their families. Also, we will be working through the discovery process that will include independent third-party assessments in order to determine the likely root cause of the event,” the Swiss Re statement said.
Sections of the Morandi Bridge, which was built in the 1960s and crosses the Polcevera River in Genoa, collapsed during a rainstorm on Tuesday morning, according to news reports, with more than 30 cars and trucks falling from the bridge. Italian authorities have opened a criminal investigation into the collapse, reports say.
(Reuters) — Swiss Re Ltd. is exploring a 2019 listing in Britain of its U.K. closed book business ReAssure, it said on Friday, as a 17% fall in first half net profit hit its shares.