Swiss Life said the portfolio with U.S. clients of Swiss Life Liechtenstein and Swiss Life Singapore was currently around 250 million Swiss francs ($259.23 million), down from 1 billion francs a few years ago.
"All insurance contracts have been categorized and been reported pursuant to the FATCA legislation," Swiss Life said, referring to the 2010 anti-tax evasion law. "Swiss Life will use the opportunity for dialogue and explain its past cross-border business in cooperation with the U.S.," the company added. (Reporting by John Revill, editing by John Miller)