Pros
Great people, incredibly smart and friendly. Great products, lots of expertise, the Rolls-Royce of the re/insurance industry: the finest, and also the most expensive. A true knowledge company where one's know-how is appreciated. If you are good at something, at Swiss Re you have a very good chance of becoming an expert in your field, mastering your own skills and learning new ones. Competitive remuneration (but not great). Benefits good, used to be better - they're cutting back like everybody else, I reckon.
Cons
The business units/functions that I'm acquainted with are run more like XVI-century courts: a culture of fear. As much as one learns cool stuff regularly, one has to learn also how to survive (and conceive feelings) in such a demotivating atmosphere which often turns downright toxic. I have never seen such a paradox: wonderful, intelligent, even caring people, working for a handful of all-powerful managing directors who are also good people (surely most of them, one suspects) but have to play the courtly game as mandated by the so-called A-bands. It's such a shame. You're completely on your own. You'll never feel more lonely that at Swiss Re.
