Swiss Re Says Debt Crisis May Derail Economic Rebound

Swiss Reinsurance Co., the world’s second-biggest reinsurer, said the economic recovery may be “derailed” by a deterioration in Europe’s debt crisis.

“There are still concerns as to whether Greece and Ireland can cope with the problems they face,” Kurt Karl, Swiss Re’s chief U.S. economist, said in an e-mailed statement today. “Instability continues in several important real estate markets including the U.S., Ireland and Spain.”