Swiss Re

Swiss Re operates at a meta-level most companies never see: it's the insurance company for insurance companies. Founded in 1863, Swiss Re pioneered reinsurance - taking on catastrophic risks (hurricanes, earthquakes, pandemics) too large for primary insurers to bear alone. With $40B+ annual revenue, the company is essentially a global risk distributor, spreading localized disasters across worldwide capital pools. When Hurricane Katrina caused $125B in damages (2005), Swiss Re absorbed billions in claims without failing because its portfolio included thousands of uncorrelated risks. This is portfolio theory made concrete: correlation kills, diversification saves. Swiss Re's survival through 160 years of disasters proves that in risk markets, the ultimate winner isn't who avoids danger - it's who diversifies it to insignificance.