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Swiss Re reports strong growth and resilience in ILS market
27th February 2024
Swiss Re, a global reinsurance firm, recently released a report highlighting key insights from the insurance-linked securities (ILS) market in 2023, which emphasises a surge in new issuance and strong investment performance in the catastrophe bond market, despite the absence of major catastrophic events. Swiss Re notes a significant growth in ... Read the full article
Swiss Re CEO emphasises need for global collaboration towards net zero goals
16th February 2024
In a recent media call following the release of Swiss Re's 2023 earnings report, Christian Mumenthaler, the CEO of the renowned reinsurance company, highlighted the inevitable transition towards achieving net-zero emissions globally. Mumenthaler underscored the momentum behind this shift, noting the overwhelming consensus among industry leaders and participants at events like ... Read the full article
Swiss Re grew property & cat premiums at Jan renewals, lifts nat cat budget
16th February 2024
Global reinsurance giant Swiss Re grew its premium volume 9% to $13.1 billion at the January 1st, 2024, reinsurance renewals, with further growth in natural catastrophe, property, and specialty lines, and a flat outcome in casualty. This morning, the company announced a solid set of results for 2023 with a ... Read the full article
Swiss Re posts huge rise in net income as P&C Re CoR strengthens to 94.8%
16th February 2024
Large European reinsurer Swiss Re has today reported a significant rise in net income to $3.2 billion for 2023 and a return on equity of 22.3%, as underwriting margins improved and the firm's P&C reinsurance arm delivered income of $1.9 billion. Group-wide, net income increased by 578% from the $472 million ... Read the full article
Shipping disruptions drive quadruple increase in prices, risking global supply chains: Swiss Re
9th February 2024
Recent attacks on ships in the Red Sea and a drought plaguing the Panama Canal area have wreaked havoc on global shipping, leading to a more than quadruple increase in prices since late 2023, according to a report by Swiss Re. The report highlights that these disruptions have severely impacted supply ... Read the full article
Swiss Re’s iptiQ partners with Goboony to launch motorhome insurance soultions
6th February 2024
Industry giant Swiss Re's digital B2B2C insurer, iptiQ and Goboony, a European camper-sharing platform, have strategically partnered to launch a new digital insurance solution tailored to the specific needs of motorhome owners. The Netherlands has been named as the first country where this solution will roll out, which is Goboony's ... Read the full article
Giv Kahrom and Alex Stubbs join Swiss Re’s cyber reinsurance team
5th February 2024
Swiss Re has announced two new hires within its cyber reinsurance team, naming Giv Kahrom as Head of Cyber Asia, and Alex Stubbs as Senior Cyber Underwriter for the UK market. Kahrom took on the position as Head of Cyber Asia in January and is based in Singapore, while Stubbs is ... Read the full article
Swiss Re champions reinsurance as a strategic ally for life insurers in navigating high-interest rates
2nd February 2024
In the midst of a dynamic financial environment marked by soaring interest rates, reinsurance is emerging as a key ally for life insurers, offering innovative solutions to effectively manage the impact on their businesses, according to a Swiss Re Institute report. The current high-interest rate landscape, while presenting opportunities, also brings ... Read the full article
Re/insurance industry partners to mitigate cloud concentration risks: Swiss Re
31st January 2024
In a strategic collaboration, global reinsurer Swiss Re has joined forces with research partner Carnegie Endowment and major cloud providers to address and mitigate the risks associated with the concentration of cloud services. This partnership has produced the paper "Cloud Reassurance: A Framework to Enhance Resilience in the Cloud," focusing on ... Read the full article
Continued underwriting discipline vital after a ‘much more normal renewal’, Swiss Re’s Lot
30th January 2024
Following a difficult January reinsurance renewal season in 2023, it felt "like a much more normal renewal" this year with fewer surprises, but to ensure a sustainable balance in risk sharing, continued underwriting discipline is paramount, according to Gianfranco Lot, Chief Underwriting Officer (CUO), P&C Reinsurance, Swiss Re. "From a reinsurance ... Read the full article
Swiss Re’s Baertschi remains hopeful on positive impact of AI following WEF 2024
23rd January 2024
Providing insight from the 2024 World Economic Forum in Davos, Swiss Re's CEO P&C Re, Urs Baertschi, suggested many business leaders view AI as an evolutionary technology, rather than a revolutionary one, though he remains hopeful that it will have a positive impact on the re/insurance industry. Baertschi explained there was ... Read the full article
Net-zero transition accelerating despite geopolitical risk exposure: Swiss Re
18th January 2024
Speaking in an interview with CNBC at the 2024 World Economic Forum in Davos, Christian Mumenthaler, CEO of Swiss Re, observed that despite geopolitics "trumping everything right now" in terms of global focus, there is no hesitation from companies in the net-zero transition, rather, "the movement is accelerating". "I'm co-chair of ... Read the full article
Investing in climate adaption can create a competitive advantage: Swiss Re
17th January 2024
Climatic natural disasters caused global economic losses of $275 billion in 2022, and this trend is anticipated to continue as economic growth and property development increase the exposed economic value, according to Swiss Re. A new report, authored by Veronica Scotti, Chairperson, Public Sector Solutions, highlights how the ... Read the full article
Swiss Re purchases cyber market’s first retrocession ILW, brokered by Gallagher Re
16th January 2024
Global reinsurance firm Swiss Re has purchased the market’s first cyber retrocession industry loss warranty (ILW), securing $50 million of catastrophic US cyber insurance event protection. Cover also includes protection against widespread malicious ransomware or malware, prolonged catastrophic cloud outage and systemic data breach. Nick Meuli, Head of P&C Capacity Management at ... Read the full article
Indian insurance sector to be fastest growing among G20: Swiss Re
16th January 2024
The Indian insurance sector is expected to be the fastest growing among the G20 with total insurance premiums forecast to grow by 7.1% in real terms over 2024-2028, according to reinsurance giant Swiss Re. 7.1% growth over the next five years is well above the market averages for global of 2.4%, ... Read the full article