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.

Insurance not the sole solution to cyber resilience: Swiss Re’s Ermotti

13th May 2022

Sergio P. Ermotti, Chairman of the Board of Directors, has stressed that, while insurance go some way towards mitigating the impact of cyber risks, it “is not the sole solution” to cyber resilience. Cyber risks have become even more prominent since the COVID-19 pandemic and Russia's invasion of Ukraine, as working ... Read the full article

Swiss Re GBS to open new tech centre in Hyderabad, India

11th May 2022

Swiss Re Global Business Solutions (GBS) India, the technology and analytical hub of reinsurance giant, Swiss Re, has announced that it is set to open a new centre in Hyderabad in September 2022. The new GBS centre is expected to help strengthen Swiss Re’s commitment to India, as well as its ... Read the full article

Group risk market shows positive growth despite uncertainties: Swiss Re

10th May 2022

The UK group risk market continued to show positive growth last year, proving resilient in the face of sustained economic and market uncertainty, according to analysis by Swiss Re. The reinsurer’s annual Group Watch report shows that the number of in-force group risk policies increased by 4.1% from 81,055 in 2020 ... Read the full article

Stagflation likely but conditions are temporary: Swiss Re

6th May 2022

Analysts at Swiss Re Institute say that their baseline outlook for the global economy is now a ‘stagflation-like’ scenario, although they assured that these conditions should be temporary, and may even benefit re/insurers in the long-term, despite representing a short-term threat to profitability. Reflecting on recent global events, Swiss Re notes ... Read the full article

Swiss Re’s Ukraine war reserves include aviation as there’s “real loss there” – CFO Dacey

5th May 2022

A portion of the $283 million Swiss Re reserved in the first-quarter of 2022 for the ongoing war in Ukraine is for aviation, as the reinsurer believes "there is real loss there," according to its Chief Financial Officer (CFO), John Dacey. This morning, Swiss Re announced reserves of $154 million within ... Read the full article

Swiss Re falls to net loss in Q1 as high COVID and nat cat claims continue

5th May 2022

Reinsurance giant Swiss Re has reported a net loss of $248 million for the first-quarter of 2022, as losses related to the pandemic continued, as well as impacts from the war in Ukraine and natural catastrophes. The net loss compares with net income of $333 million in Q1 2021, as the ... Read the full article

Swiss Re appoints Lubomir Varbanov as Head Public Sector Solutions APAC

4th May 2022

Reinsurance giant Swiss Re has appointed Lubomir Varbanov as Head Public Sector Solutions APAC. Within his new role, Lubomir will be based in Singapore and will manage a team across multiple locations, including Australia, China, India, Japan and Singapore. Together with his team, Lubomir will engage with governments, development banks, multilateral organisations ... Read the full article

Insurance part of solution to world’s economic woes: Swiss Re

25th April 2022

Insurance may be part of the solution to the world’s current economic woes, according to a new note from Swiss Re. The firm said that expanded insurance reach is a more fiscally and environmentally sustainable solution to smooth real incomes and consumption. It came to this conclusion after determining that price controls, ... Read the full article

Catastrophes drive supply chain risks higher for businesses: Swiss Re’s Berger

22nd April 2022

With the cost and fallout from catastrophe events rising, and climate change increasing the severity and frequency of such events, businesses are now faced with increasing risks, greater costs and losses, says Andreas Berger, Chief Executive Officer Corporate Solutions, Swiss Re. Because of this businesses now need to identify and rethink ... Read the full article

Swiss Re secures $1.15bn hybrid bank financing / ILS deal for group-wide losses

14th April 2022

Reinsurance giant Swiss Re has partnered with J.P. Morgan and institutional investors to complete an innovative, first of its kind hybrid transaction which combines bank financing and insurance-linked securities (ILS), securing $1.15 billion in protection for severe underwriting-related losses. For this innovative multi-year stop-loss transaction, J.P. Morgan provides $1 billion in ... Read the full article

Ermotti re-elected as Chairman as Swiss Re shareholders approve all AGM proposals

13th April 2022

At Swiss Re's 2022 Annual General Meeting (AGM), held this morning, the reinsurer's shareholders approved all proposals put forward by the Board of Directors, including the re-election of Sergio Ermotti as Chairman of the Board. Alongside the re-election of Ermotti, Swiss Re shareholders approved the re-election of all other proposed members ... Read the full article

Swiss Re promotes Claudia Cordioli to Group Finance Director

12th April 2022

Reinsurance giant Swiss Re has appointed Claudia Cordioli as the new Group Finance Director, reporting to Group CFO John Dacey. In her new role, Cordioli will oversee the Group Reporting, Group Tax, Accounting & Reporting and Finance Corporate Functions as well as the implementation of the IFRS framework across Finance. Cordioli holds ... Read the full article

Allianz latest to rule out insuring East African Crude Oil Pipeline

11th April 2022

Allianz has become the seventh insurer to commit to not providing coverage to the East African Crude Oil Pipeline (EACOP). The pressure group #StopEACOP says that the insurer has sent it an email to confirm that they will not be ‘providing direct insurance’ to the project since ‘it neither meets our ... Read the full article

Swiss Re sees sustainable growth in cat XoL at attractive rates

7th April 2022

With rates in the catastrophe arena remaining attractive, global reinsurer Swiss Re expects growth in natural catastrophe premiums of around $400 million in 2022, as the company's budget for losses from these events in P&C Re rises to $1.9 billion for the year. During the global reinsurer's 2022 Investor Day, Swiss ... Read the full article

Swiss Re targets further nat cat expansion, higher L&H Re profits

7th April 2022

Global carrier Swiss Re has reiterated how core its reinsurance operations are to its overall strategy, as the company targets a Group return on equity (ROE) of 14%, supported by greater profits in its Life and Health (L&H) business and attractive margins in property and casualty (P&C). At today's Swiss Re ... Read the full article