Reinsurance News

Swiss Re news

News on one of the world’s largest reinsurance companies Swiss Re.

Swiss Re is a leading global reinsurance company and our news covers its announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews.

Swiss Re eyes stake in India’s Paytm Insuretech for $123mn

27th October 2021

According to local reports, reinsurer Swiss Re is planning to make a Rs 920 crore (USD 123 million) investment in the Paytm Insuretech Private Limited (PIT) business of Indian financial services firm Paytm, through which it will take a 23% stake in the initiative. Paytm, which specializes in digital payment systems, ... Read the full article

Swiss Re CorSo adds Favorito as exec risk head of North America

25th October 2021

Swiss Re Corporate Solutions has appointed Chris Favorito to serve as Head of Executive Risks for North America. Favorito will be responsible for leading and driving the underwriting strategy for the firm’s North American Executive Risk book of business. This includes a suite of management liability products tailored for public and private ... Read the full article

Swiss Re predicts strong digital P&C premium growth in Southeast Asia

25th October 2021

New research by Swiss Re Institute projects that the digital property and casualty (P&C) personal lines market could reach a cumulative $7.5 billion in premiums over the next five years in South and Southeast Asia. Survey results on attitude to buying personal lines insurance in these regions highlighted a unique opportunity ... Read the full article

2021 was “no outlier” for European cat losses: Swiss Re’s Reichelt

18th October 2021

With climate concerns growing across the re/insurance market, Swiss Re’s Frank Reichelt warns that secondary peril losses will inevitably grow, meaning a year like 2021 in Europe is “no outlier on a global scale.” With the January 2022 renewals coming up, reinsurance buyers are reflecting on what has been another active ... Read the full article

European climate losses to push rates at 1/1: Swiss Re’s Kramer

14th October 2021

Beat Kramer, Head Property Underwriting EMEA at Swiss Re, has said that he expects reinsurance rate increases to continue at the upcoming January renewals, in part due to the level of catastrophe losses experienced in Europe this year, which are viewed as having been exacerbated by climate change. Speaking during a ... Read the full article

Berenberg estimates Swiss Re’s cat losses will exceed 2021 budget

14th October 2021

Analysts at investment bank Berenberg have reduced its 2021 earnings per share (EPS) estimates by 20% as they expect catastrophe losses will exceed the cat budget again this year. This is due to the impact of hurricane Ida and the European floods. Currently, Swiss Re is the only European reinsurer to provide ... Read the full article

Swiss Re won’t provide cover to climate bad actors, says Ooi

13th October 2021

Sharon Ooi, Head of Australia & New Zealand at Swiss Re, says that the reinsurer is committed not to provide cover for “bad actors” in the fight against climate change. Speaking in a recent interview with The Australian Financial Review, Ooi said that Swiss Re’s climate policy aims to “ensure that ... Read the full article

Swiss Re eyes improved auto pricing with insurtech partnership

12th October 2021

Leading reinsurer Swiss Re is strategically partnering with traffic crash data and location risk analytics firm TNEDICCA in order for the latter's proprietary Location-Based Risk Score and location risk data to be integrated with the former's Motor Market Analyser (MMA) solution. It's hoped this partnership will enable insurance companies to more accurately ... Read the full article

Swiss Re’s iptiQ partners with UK medical network Square Health

11th October 2021

Customers of Swiss Re's iptiQ’s clients are set to receive value-add digital health benefits with Square Health, a leading network of UK medical professionals. Benefits include virtual 24/7 GP consultations, e-prescriptions, mental health support, bereavement counselling, wellness checks and dietician services. These services aim to reduce the amount of time needed to ... Read the full article

Swiss Re partners with Wysa for mental health app

8th October 2021

Swiss Re has partnered with mental health platform Wysa to create an insurance-specific app to help consumers better track their mental wellbeing and improve links to insurers’ existing support networks. A report by Swiss Re Institute noted that a number of 45 million consumers across six markets view a future negative ... Read the full article

Swiss Re and Munich Re rule out backing for Australian coal mutual

8th October 2021

Swiss Re and Munich Re have ruled out support for a controversial mutual fund proposed for the Australian coal industry due to their climate and coal policies would rule out their involvement in the scheme. The coal industry mutual fund has been touted as a potential solution to the insurance challenges ... Read the full article

Swiss Re joins insurtech Getsafe’s $93m Series B

7th October 2021

Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article

Climate transition plans vital as risk of fuel poverty looms: Swiss Re

6th October 2021

Swiss Re has underlined the “urgent need” for orderly climate change transition plans that invest more into renewables, as the energy crisis in Europe threatens to give rise to ‘fuel poverty’ and increase social tensions. In a new report, analysts note that energy prices have skyrocketed in recent weeks, as shortfalls ... Read the full article

Swiss Re pegs Hurricane Ida loss at $750mn

5th October 2021

Global reinsurance giant Swiss Re has announced that it expects an estimated impact of USD 750 million from Hurricane Ida, based on insurance and reinsurance industry losses of between USD 28 billion to USD 30 billion. Hurricane Ida made landfall as a Category 4 storm near Port Fourchon, Louisiana, about 60 ... Read the full article

Swiss Re and Claim Genius partner on AI motor solution

23rd September 2021

Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article

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