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Swiss Re Reinsurance companies generate cash flows from the premiums they collect. Working together with SoftBank, Swiss Re could leverage the Japanese conglomerate’s technology and access to high-growth Asian markets to fuel growth (Photo: Michele Limina/Bloomberg)

(Bloomberg) – Billionaire Masayoshi Son’s SoftBank Group Corp. is likely to take a stake of 10% or less in Swiss Re AG as it seeks to gain a foothold in the cash-rich reinsurance industry. The Swiss company’s shares fell as much as 3.1%.

The companies are in talks about strategic cooperation as well as the anchor investment, Swiss Re said in a statement on Wednesday. It’s the first time the insurance firm has commented on the size of a possible transaction.

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