Media information

ab

Swiss Re announces final close of EUR 329 million European Clean Energy Fund

Contact: Zurich, 12 April 2007 – announces the successful close of the EUR 329 million European Clean Energy Fund, one of Media Relations, Zurich Telephone +41 43 285 7171 the largest funds of this type in Europe. The Fund, a UN accredited investment vehicle, provides capital to European clean Corporate Communications, Asia Telephone +852 2582 36 energy projects, which are environmentally beneficial, generate carbon credits or tradable renewable energy certificates. Corporate Communications, Telephone +44 20 2239 The European Clean Energy Fund raised EUR 329.2 million from Corporate Communications, New York Telephone +1 212 317 5663 institutional investors in Europe, Canada and the United States. The Fund provides mezzanine and equity capital to a host of Investor Relations, Zürich Telephone +41 43 285 4444 environmentally-friendly initiatives, including wind, solar, hydro- electric, geothermal and waste-to-energy projects.

Swiss Re is the anchor investor in the Fund and acts as carbon Swiss Reinsurance Company advisor for the selected projects. The Fund was placed in Europe Mythenquai 50/60 P.O. Box by Swiss Re’s affiliate, Conning Research and Consulting. TCW, CH-8022 Zurich an indirect subsidiary of Société Générale, is the Fund’s

Telephone +41 43 285 2121 investment manager. Fax +41 43 285 2999 www.swissre.com Jacques Aigrain, Swiss Re’s Chief Executive Officer, said, “The launch of the European Clean Energy Fund is part of Swiss Re’s

commitment to the Clinton Global Initiative and another important step in our approach to tackle the issue of climate change. This Fund not only contributes to the progress of clean energy projects, it also aims to provide attractive returns to investors, while enhancing Swiss Re’s expertise in the environmental markets business, both in investments and carbon market services.”

Walter Blasberg, Conning's Head of Client Business Development, commented, "The European Clean Energy Fund was attractive to investors because of its strong and skilled sponsors, its potential to offer healthy returns and the opportunity to allow investors to make a difference in the environment."

Page 1/3

The United Nations Economic Commission for Europe awarded the Fund a mandate under the Energy Efficiency 21 Project. This qualifies the Fund as an accredited investment vehicle within the UN system, which allows the Fund to participate in special project financing initiatives and to receive UN grant money for Kyoto Protocol and climate change related projects.

Notes to editors

Swiss Re Swiss Re is the world’s leading and most diversified global reinsurer. The company operates through offices in more than 25 countries. Founded in Zurich, Switzer- land, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by -based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated “AA-“ by Standard & Poor’s, “Aa2” by Moody’s and “A+” by A.M. Best.

Conning & Company Conning & Company, founded in 1912, is one of the leading global providers of asset management services and insurance industry research. Conning’s services include: (1) integrated investment management solutions ($67.8 billion under management at year-end 2006), (2) comprehensive insurance industry research, and (3) strategic financial consulting. The company is headquartered in Hartford, with additional offices in London, Dublin and Hong Kong. Conning is owned 100% by Swiss Re. Conning Research and Consulting is the broker-dealer affiliate of Conning.

TCW Founded in 1971, The TCW Group develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients’ wealth. The firm has approximately $150 billion in assets under management. TCW clients include many large corporate and public pension plans,, financial institutions, endowments and foundations, as well as a substantial number of foreign investors and high net worth individuals. TCW is a subsidiary of Société Générale Asset Management, which has approximately $460 billion under management. TCW's Energy & Infrastructure Group is one of the leading providers of institutional capital to the energy sector globally with more than $7.4 billion of capital invested in more than 190 energy projects and companies in 22 countries.

Cautionary note on forward-looking statements Certain statements and illustrations contained herein are forward-looking. These statements and illustrations provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical fact or current fact. Forward-looking statements typically are identified by words or phrases such as "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as "will", "should", "would" and "could". These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause Swiss Re's actual results, performance, achievements or prospects to be materially different from any future results, performance, achievements or prospects expressed or implied by such statements. Such factors include, among others: • the impact of significant investments, acquisitions or dispositions, and any delays, unexpected costs or other issues experienced in connection with any such transactions, including, in the case of acquisitions, issues arising in connection with integrating acquired operations; • cyclicality of the reinsurance industry; • changes in general economic conditions, particularly in our core markets; • uncertainties in estimating reserves; • the performance of financial markets;

Page 2/3

• expected changes in our investment results as a result of the changed composition of our invested assets or changes in our investment policy; • the frequency, severity and development of insured claim events; • acts of terrorism and acts of war; • mortality and morbidity experience; • policy renewal and lapse rates; • changes in rating agency policies or practices; • the lowering or withdrawal of one or more of the financial strength or credit ratings of one or more of our subsidiaries; • changes in levels of interest rates; • political risks in the countries in which we operate or in which we insure risks; • extraordinary events affecting our clients, such as bankruptcies and liquidations; • risks associated with implementing our business strategies; • changes in currency exchange rates; • changes in laws and regulations, including changes in accounting standards and taxation requirements; and • changes in competitive pressures. These factors are not exhaustive. We operate in a continually changing environment and new risks emerge continually. Readers are cautioned not to place undue reliance on forward-looking statements. We undertake no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Page 3/3