Swiss Re was founded in Zurich in 1863 as the Schweizerische Rückversicherungs-Gesellschaft.
The company was established after major fires and other disasters demonstrated that insurers needed protection against unusually large accumulations of claims. Reinsurance allows an insurer to transfer part of its risk to another specialist company, helping stabilize finances after catastrophes.
Swiss Re became one of the world's major reinsurers, serving insurance companies rather than mainly selling policies directly to households. Its business has included property, casualty, life, health, and catastrophe-related risks.
Swiss Re is often confused with Munich Re, another major European reinsurer founded in 1880. The two companies are separate competitors, and Swiss Re's headquarters remain in Zurich. Its historical legal name explains why the company is commonly abbreviated as Swiss Re.