Swiss Re reveals ties to Genoa bridge collapse tragedy

Swiss Re reveals ties to Genoa bridge collapse tragedy | Insurance Business

Swiss Re reveals ties to Genoa bridge collapse tragedy

Global reinsurer Swiss Re has today announced its link to the Italian company, Autostrade per I’Italia, which manages the stretch of motorway in Genoa on which a 50-year-old highway bridge collapsed earlier this week, causing almost 40 fatalities.

On Tuesday (August 14) lunchtime, a 200-meter section of the motorway bridge in northern Italy gave way, claiming at least 38 lives. Following the tragedy, there have been calls for Autostrade per I’Italia’s parent company Atlantia (ATL.MI) to be stripped of its road concessions, according to a Reuters report.

A Swiss Re spokeswoman told Reuters: “We are already working with and will continue supporting our client in managing the impact of this tragic event on the victims and their families.”

The insurance giant declined to reveal details about individual insurance contracts and would not comment on the coverage it provided to clients.

“We will be working through the discovery process that will include independent third-party assessments in order to determine the likely root cause of the event,” the firm announced, adding its sympathies for those affected by the tragedy.