Swiss Re Closes 'Gherkin' Sale

February 23, 2007

Swiss Re announced that it has completed the sale of its London office building, located at 30 St. Mary Axe, to an affiliate of the real-estate corporation IVG Immobilien AG for £600 million ($1.18 billion) (See IJ web site Feb. 5).

Swiss Re will remain a principal tenant of the building, popularly known as "the gherkin" (pickle) in the heart of "The City," London's financial district.