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Reinsurance News

Swiss Re

Reinsurance use “at an absolute inflexion point” – Rowan Douglas at RVS

13th September 2017

Speaking at the Insurance Development Forum panel debate on confronting global underinsurance amid heightened global risks, at the 2017 Rendezvous de Septembre (RVS), Rowan Douglas, CEO of Capital Science and Policy, Willis Towers Watson, said the industry is at a turning point that could revolutionise the use of re/insurance in the ... Read the full article

“Cyber probably not insurable,” Swiss Re CEO

12th September 2017

While cyber cover has often been heralded as one of the biggest re/insurance opportunities of the future, the Chief Executive Officer (CEO) of reinsurer Swiss Re, has a very different take on the realities of the emerging risk, saying that despite the hype he remains "extremely skeptical about cyber.” Speaking at ... Read the full article

AI could “fundamentally close a lot of the protection gap,” Swiss Re CEO Mumenthaler

12th September 2017

The Chief Executive Officer (CEO) of reinsurance giant Swiss Re, Christian Mumenthaler, believes advanced technology, such as artificial intelligence (AI), can help to close the global protection gap. Addressing an audience during the PwC breakfast at the 2017 meeting of the reinsurance industry in Monte-Carlo, Mumenthaler spoke about the increased digitisation ... Read the full article

Reinsurance industry must “step up to the occasion,” says Christian Mumenthaler

11th September 2017

In light of the devastation caused by hurricane Irma, Swiss Re Chief Executive Officer (CEO), Christian Mumenthaler, speaking at the 2017 meeting of the reinsurance industry in Monte-Carlo, called for the global reinsurance industry to step up and do what it's here for. During the PwC event in Monte-Carlo earlier this ... Read the full article

Swiss Re expects price stabilisation after recent loss events

11th September 2017

Reinsurance giant Swiss Re said this morning that it expects the impacts of recent catastrophe losses will be sufficient to stabilise reinsurance industry pricing. The company said that it intends to maintain its underwriting discipline, in the face of continuing pressures from low interest rates and excess capital in the sector. The ... Read the full article

Technology and government initiatives key to emerging markets: Swiss Re

10th September 2017

Innovative use of insurance platforms, technology, and government initiatives have been key to getting markets off the ground in emerging regions, said Swiss Re Chief Economist Kurt Karl and CEO of Asia reinsurance, Jayne Plunkett, at the reinsurance industry's annual meeting in Monte Carlo. While governments are often the catalyst for ... Read the full article

50% of potential Harvey insured loss expected to be covered by reinsurance: J.P. Morgan

25th August 2017

As hurricane Harvey continues its track towards the state of Texas as a Category 2 storm, expected to intensify to a Category 3 storm as it makes landfall late Friday or early Saturday, the expected loss remains uncertain. However, J.P. Morgan expects roughly 50% of the insured loss to be ... Read the full article

2017 H1 global catastrophe losses far below average: Swiss Re

17th August 2017

The first half of 2017 has been well below average for catastrophe losses which reached just $44 billion in H1, just 37% of last year's $117 billion for the same period, according to Swiss Re's preliminary sigma estimates. Fewer and less intense weather events were experienced this year so far globally; ... Read the full article

Swiss Re Corporate Solutions targets Contingency and Sports Personal Accident business

17th August 2017

Swiss Re Corporate Solutions, the commercial and primary insurance arm of reinsurance giant Swiss Re, is targeting a new line of business with the creation of a team to underwrite global Contingency and Sports Personal Accident risks. To lead the new team, Swiss Re Corporate Solutions has appointed Jonathan Cole as ... Read the full article

European reinsurers’ cat budgets strong, only a very large loss will turn pricing: RBC

17th August 2017

With the peak of the Atlantic hurricane season approaching uncertainty remains for European reinsurers driven by the potential for large losses, but with annual catastrophe budgets being relatively high, only the most severe loss event would start a turn in the market, according to RBC Capital Markets. Based on historical data, September ... Read the full article

A 1992 Hurricane Andrew would leave $50-60 billion insured losses if it struck today

11th August 2017

25 years after the devastating Hurricane Andrew struck South Florida, Swiss Re calculated what the loss levels would be today if the same hurricane hit the region, revealing insured losses would double to reach $50-60 billion, and economic damage would exceed $80 to $100 billion. This is due to stark development ... Read the full article

Swiss Re & Wellthy Therapeutics partner to improve access to diabetes insurance

10th August 2017

Reinsurance giant Swiss Re is to partner with Indian digital therapeutics firm, Wellthy Therapeutics, in order to develop more accessible, affordable and effective insurance solutions for people with Type 2 Diabetes. Based in Mumbai, India, Wellthy Therapeutics is one of five companies selected as part of Swiss Re's InsurTech Accelerator programme ... Read the full article

Swiss Re results miss forecasts as it navigates challenging market

4th August 2017

Global reinsurance firm Swiss Re missed analyst forecasts in its half-year results reported today, with the challenging market environment becoming very clear as its performance, earnings and return to investors continues to decline. The effects of a more competitive reinsurance market awash with capacity and the resulting consecutive years of price ... Read the full article

Re/insurance needed to shield against U.S. infrastructure failure costs: Report

1st August 2017

U.S. electricity system outages caused by natural disasters drive economic losses of up to $55 billion annually, and these figures are set to grow as climate change causes more extreme weather events, spurring increased demand for innovative risk mitigation and transfer solutions, according to a report recently published by reinsurance giant, ... Read the full article

Swiss Re reinsures life portfolio for Bansabadell Vida

25th July 2017

Swiss Re has entered into a reinsurance arrangement with Zurich subsidiary Bansabadell Vida which will see the firm reinsure and take on the risks of a portfolio of individual life risks, in return for a reinsurance commission payment of EUR 683.7 million. Bansabadell Vida is a Spanish life insurance joint venture ... Read the full article

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