Headquartered in Armonk, N.Y., Swiss Re America Holding Corp. is a subsidiary of Swiss Re. The company is the North American reinsurance operations of the Zurich, Switz., reinsurance goliath, the world largest reinsurer. Swiss Re America reinsures a variety of lines including health, life, auto, property and casualty. It also offers financial planning services. In addition to its headquarters, Swiss Re America has offices in California, Georgia, Connecticut, Boston, Illinois, Texas, Ohio, Indiana, New Hampshire, New York City, Philadelphia and Michigan.
Parent Swiss Re said it plans to eliminate more than 1,000 jobs, or about 10% of its work force, over the next year, according to The Wall Street Journal. The reinsurance company is under pressure to cut costs after posting significant losses in 2008 related to failed risky investments.