Swiss Reinsurance Company Ltd successfully completed the issuance and international placement through a repackaging vehicle of USD 750,000,000 perpetual subordinated notes with stock settlement (Notes) on 29 March 2012. The terms and conditions of the Notes provide for the same stock settlement feature as the CHF 320,000,000 issuance earlier this year (see CapLaw-2012-8) and also qualify as upper additional capital pursuant to the Insurance Supervision Ordinance.

Reference: CapLaw-2012-21