A Short History of the Company

The European Reinsurance Company of Zurich was incorporated in Switzerland on 21 December 1918 under the name of Zurcher Ruckversicherungs-Gesellschaft in Zurich.

On 30 June 1919 its name was changed to Ruckversicherungs-Gesellschaft in Zurich, (Compagnie de Reassurance de Zurich, Reinsurance Company of Zurich).

On 21 June 1924 its name was changed to Allgemeine Ruckversicherungs-Gesellschaft in Zurich, (Compagnie Generale de Reassurance de Zurich, General Reinsurance Company of Zurich).

On 9 June 1928 its name was changed to Europaische Allgemeine Ruckversicherungs-Gesellschaft in Zurich, (Compagnie Europeenne Generale de Reassurances de Zurich, European General Reinsurance Company in Zurich).

On 27 June 1994 its name was changed to Europaische Ruckversicherungs-Gesellschaft in Zurich, (Compagnie Europeenne Generale de Reassurances de Zurich, European General Reinsurance Company in Zurich).

On 21 May 1997 it was renamed Swiss Re New Markets.

On 1 July 1997 it was renamed Europaische Ruckversicherungs-Gesellschaft in Zurich, (Compagnie Europeenne Generale de Reassurances de Zurich, European General Reinsurance Company in Zurich).

On 19 March 1963 the Company was registered in the UK as a foreign company under number FC00528.

The Company is a wholly-owned subsidiary of Swiss Reinsurance Company, Zurich.

The Scheme Business

The Scheme Business is that business in which the Scheme Company participated through the RGM Pool. Other RGM pool participants include the Mercantile and General Reinsurance Company Limited ("M&G Re") and NRG Victory Reinsurance Limited ("NRG Re"). M&G Re is currently concluding its participation in the RGM Pool through a Scheme which became effective in September 2005 and the NRG Re is proposing to do the same through its own separate Scheme. This pool consisted of four companies which transacted insurance and reinsurance, of mainly US casualty exposures, from August 1963 to November 1966. The Scheme Company's share of this business was 40%.  This portfolio is currently managed by the Scheme Manager, a run-off specialist. Therefore, any policyholder communications with regard to this business should be directed to Kevin McAtee/Dave Armstrong at the Scheme Manager, Bruton Court, Bruton Way, Gloucester, GL1 1DA.

The liabilities of the Company in respect of the Scheme Business are predominantly long-tail in nature and include asbestos, pollution and health hazard (APH) exposures, other casualty business and marine and aviation claims including LMX losses (London Market Excess of Loss).

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