Swiss Re, the Zurich-based reinsurance group, is set to reduce its workforce by over a fifth by the end of next year following the $7.4bn (€5.8bn) takeover of General Electric's insurance business.

In a statement released today, the reinsurer said it would reduce its employees following an overhaul of the group's structure "through lay-offs and natural attrition" by the end of 2007.

Swiss Re to cull 2,000 employees following GE insurance deal

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The ETF roles paying $500k, and Woodford’s never-ending saga

Europe’s war for ETF talent pushes top salaries above $500,000

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Citi veteran Selim Elgen joins JPMorgan’s private bank in Dubai

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Carl Radford’s White Elk Partners will have six people in the Australian city by the end of 2025

The agreement settles claims that the lender facilitated $800 million of payments related to the looting of the Malaysian sovereign-wealth fund.

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European business activity continues to prove resilient into the second half of the year, surveys showed, despite the American trade tariffs that have weighed on some companies.

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The Dutch insurer and asset manager has focused on making the U.S. its primary market and a key pillar of its growth strategy in recent years.

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The city’s exchange operator reported record profit and revenue as bullish market sentiment boosted trading.

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