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Reinsurance News

Swiss Re

Swiss Re to insure up to $500mn credit risk on IFC loans

19th April 2018

Swiss Re Corporate Solutions, the commercial insurance arm of global reinsurer Swiss Re, has partnered with the International Finance Corporation (IFC) to expand a "pioneering platform" by $500 million, supporting greater investments designed to modernise infrastructure in emerging markets. Under the agreement, Swiss Re will insure a portion of the credit ... Read the full article

$193bn disaster protection gap in 2017, reports Swiss Re’s sigma

10th April 2018

Swiss Re’s research institute, sigma, has reported that global insured losses from disaster events totalled a record US $144 billion in 2017, leaving a $193 billion deficit in coverage when compared with total global economic losses from natural disasters and man-made catastrophes, which reached $337 billion. Sigma noted that this was ... Read the full article

Technology will transform re/insurance value chain, says Swiss Re’s Mumenthaler

6th April 2018

Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re, has asserted that “Technology will fundamentally change the insurance value chain over the coming years” in a statement that comes alongside Swiss Re’s plans for technological adaptation and integration. Swiss Re maintains that it has prepared for technological market disruption by firmly ... Read the full article

Swiss Re open to commercial book bolt-on acquisitions: CEO Mumenthaler

4th April 2018

Global reinsurance firm Swiss Re is looking for growth within its commercial insurance book, the Corporate Solutions division, and is open to bolt-on type acquisitions to drive further growth in that area of its business. Speaking to the media this morning, Swiss Re CEO Christian Mumenthaler said that the firm would ... Read the full article

SoftBank talks ongoing, but only a 10% investment stake on the table: Swiss Re

4th April 2018

According to reinsurance giant Swiss Re this morning, the talks with Japanese technology conglomerate and investor SoftBank Group are continuing, but the expectation is that if a deal is struck it will be for a maximum of 10% of the reinsurers share capital. The reinsurer explained this morning that, "negotiations are ... Read the full article

SoftBank said to be getting closer to Swiss Re deal

29th March 2018

Japanese technology conglomerate, telecommunications and investments giant SoftBank Group is said to closing in on the acquisition of a roughly 25% stake in reinsurance firm Swiss Re, according to a report. Bloomberg said that SoftBank founder Masayoshi Son is set to offer between 100 and 105 Swiss francs per share for ... Read the full article

Swiss Re consolidates Western & Southern Europe leadership under Cordioli

27th March 2018

Global reinsurance firm Swiss Re has promoted Claudia Cordioli to a role which will see her taking responsibility for all of Western and Southern Europe at the reinsurer, as Managing Director for the region. As from April 1st, Cordioli will move into the position of CEO for Western and Southern Europe, ... Read the full article

Swiss Re partners with MassMutual’s LifeScore Labs on risk assessment algorithm

23rd March 2018

Swiss Re has announced that it will collaborate with LifeScore Labs, a subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), to support a new standards-based algorithmic risk scoring solution for the life re/insurance industry, called LifeScore360. LifeScore360 will be offered as an additional analytics option for Magnum, Swiss Re’s existing automated ... Read the full article

Swiss Re’s Board of Directors proposes three new members for election

16th March 2018

Swiss Re's Board of Directors has proposed Karen Gavan, Eileen Rominger and Larry Zimpleman for election as new members to the Board in the April 2018 Annual General Meeting of shareholders (AGM). Gavan has over 35 years of experience in senior finance and leadership functions across life, and property and casualty ... Read the full article

Swiss Re directors propose higher dividend and CHF 1bn share buy-back plan

15th March 2018

Swiss Re’s Board of Directors is to propose an increase in the company’s regular dividend to CHF 5.00 per share at the Annual General Meeting (AGM) of shareholders next month, and intends to acquire approval for a new CHF 1.0 billion public share buy-back programme. The buy-back programme is requested in ... Read the full article

Allianz Africa hires Arthur Yao from Swiss Re as CUO & Reinsurance Officer

14th March 2018

Allianz Africa Financial Services has named former Swiss Re Acting Head of West Africa Arthur Yao as Chief Underwriting and Reinsurance Officer, with effect from September 1st 2018. In his new role at Allianz Africa Yao will be responsible for direct underwriting and reinsurance strategies across all lines of business in ... Read the full article

Swiss Re backs innovative coral reef insurance solution

12th March 2018

Global reinsurance giant Swiss Re has supported the development of an innovative new parametric insurance solution designed to help the conservation of the Mesoamerican Reef, which includes protecting the coral reef and beach sand against the impacts of major hurricanes. The new insurance solution was announced at the 2018 World Ocean Summit ... Read the full article

Swiss Re’s Mumenthaler urges fresh solutions to growing protection gap

2nd March 2018

Chief Executive Officer (CEO) of Swiss Re, Christian Mumenthaler, has used his statement in the company’s 2017 financial review to urge reinsurers to address the growing protection gap using innovative solutions. Mumenthaler’s statement draws attention to the US $153 billion deficit in global insurance coverage, and the threat this gap poses ... Read the full article

Swiss Re Corporate Solutions approved to operate in Mexico

2nd March 2018

Global reinsurer Swiss Re's newly licensed Mexico City branch, Swiss Re Corporate Solutions México Seguros S.A. de C.V., began operations on January 2nd 2018 after receiving formal authorization from local insurance authorities. The Mexico branch will offer multi-line insurance cover to mid-sized and large companies and government entities through agents and ... Read the full article

Swiss Re & Argo backed cyber insurer Coalition raises $10 mn

1st March 2018

Swiss Re and Argo backed cyber insurer Coalition has raised $10 million in Series A funding from leading technology investors including Vy Capital, Ribbit Capital, Valor Equity Partners, Sam Altman (President, Y Combinator), and Deep Nishar (Senior Managing Director, Softbank Vision Fund). Proceeds from the funding will be used to grow Coalition’s ... Read the full article

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