Swiss Re has announced it is looking for options to withdraw from its B2B2C white labelling business iptiQ. The decision follows a strategic review and the carrier said it did not have a timeframe or preferred option for its exit.

Christian Mumenthaler, group chief executive officer of Swiss Re, said: “The market environment today is vastly different from the one when iptiQ was created. Given these changed conditions and Swiss Re's strategic priorities, we've concluded we are not the best owners of this business going forward.”