Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review.
The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless, Swiss Re decided its capital would be better used for its core activities, according to John Dacey, Swiss Re’s chief financial officer, during a media call to discuss the group’s first quarter results.
Options for iptiQ could include pote