Chapter

Second World War

Harold James, Peter Borscheid, David Gugerli and Tobias Straumann

in The Value of Risk

Published in print December 2013 | ISBN: 9780199689804
Published online April 2014 | e-ISBN: 9780191769450 | DOI: https://dx.doi.org/10.1093/acprof:oso/9780199689804.003.0019
Second World War

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During the Second World War Swiss Re took precautionary measures to relocate business to several locations in the west of Switzerland in case the Nazis should invade. The UK and US subsidiaries were given carte blanche to continue functioning in the event of Swiss Re in Switzerland being seized by the Nazis. Germany, however, remained an immensely important market for Swiss Re, as did Italy, and the company maintained its relationships with the Axis powers. In the case of Germany this meant negotiating with the Reichswirtschaftsministerium in Berlin in order to secure clearing agreements. Swiss Re's managers did, however, defend their political views and the Germans remained dubious of Swiss Re's political allegiance. America, meanwhile, was suspicious of Swiss Re's proximity to Germany.

Keywords: Second World War; Axis powers; clearing agreements; capital transfers

Chapter.  5975 words. 

Subjects: Business History ; Innovation

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