Swiss Re has announced further changes to the legal entity structure of the group, with Swiss Reinsurance Company to be made the sole direct wholly owned operating subsidiary of the business.

Swiss Reinsurance Company Ltd will in turn have separate holding companies for the Reinsurance and Corporate Solutions business units, as well as the iptiQ high-tech division.

“The streamlining of the group's legal entity structure will not change the fact that these businesses continue to operate independently,” the business says in a statement.

Swiss Re aims to have the new structure implemented by the end of next year.