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 implements new reinsurance organisational structure, additional leaders named
3rd April 2023
Reinsurance giant Swiss Re's previously announced streamlined organisational structure, described by the firm as a simpler set-up with shorter decision paths that will result in enhanced client focus, is now live. First announced back in February, the new structure sees the splitting of the firm's reinsurance business unit into P&C ... Read the full article
With catastrophe losses on the rise, Swiss Re issues guidelines for underwriting
31st March 2023
According to a report published by Swiss Re, there has been an upward trend in natural catastrophe-insured losses over the past six years. The data shows a rise of about 5‒7% in average annual losses established over the last 30 years with the possibility of growth in this trend. This has ... Read the full article
Swiss Re begins search for new Chair as Ermotti heads back to UBS
29th March 2023
Global reinsurance giant Swiss Re will begin a search for a new Chair, after its current incumbent Sergio P. Ermotti agreed to head back to the banking and asset management group UBS as Group CEO. Ermotti has been appointed as the as Group Chief Executive Officer and President of the Group ... Read the full article
US economic ‘hard landing’ is unavoidable: Swiss Re
27th March 2023
Analysts at Swiss Re have warned that the magnitude of the Federal Reserve’s monetary tightening measures and a weakening consumer backdrop means that a ‘hard landing’ for the US economy is now “unavoidable”. They note that the Fed's March FOMC meeting suggests that a challenging macro environment, now complicated by recent ... Read the full article
Europe’s big four hit by weaker underwriting & investment losses: Fitch
27th March 2023
Hannover Re, Munich Re, SCOR and Swiss Re all reported lower earnings for 2022 as high inflation, rising interest rates and climate-related costs led to lower underwriting and investment results, suggests a new report from Fitch Ratings. The rating agency notes that in 2022, attempts to raise prices proved to be ... Read the full article
Swiss Re estimates 2022 insured cat losses at $132bn
22nd March 2023
Global reinsurer Swiss Re has estimated that total insured losses from both natural and man-made catastrophes amounted to $132 billion last year, with economic losses thought to be more than double this figure at $284 billion. The insured total consists of $125 billion of losses from natural disasters and $7 billion ... Read the full article
Swiss Re backs AI-powered workers’ comp product from CompScience
21st March 2023
CompScience Insurance Services has announced a managing general agent (MGA) agreement with Nationwide and Swiss Re to underwrite, bind and service workers’ compensation policies. Josh Butler, Founder and CEO, CompScience, commented, “We are pleased to be partnering with Nationwide and Swiss Re so that we can bring the disruptive power of ... Read the full article
P&C claims growth to ease as inflation moderates: Swiss Re
20th March 2023
Analysts at Swiss Re have warned of continued claims severity pressures for property and casualty (P&C) re/insurers over the coming year, although the firm says that claims growth will ease slightly alongside a moderation in inflation. Swiss Re expects headline inflation to decline but stay elevated in 2023, to some extent ... Read the full article
Swiss Re cites strong capitalisation, positive business outlook
16th March 2023
Global reinsurance giant Swiss Re has cited a “very strong” capital position and has maintained that its businesses remain “well-positioned for the future” as part of its 2022 Annual Report. The report was published ahead of the reinsurer’s upcoming Annual General Meeting of shareholders (AGM) on 12 April 2023, for which ... Read the full article
Swiss Re sells German subsidiary Movingdots to Powerfleet
10th March 2023
Swiss Re has agreed to sell its Germany-based subsidiary Movingdots, a provider of insurance telematics and sustainable mobility solutions, to Powerfleet. Movingdots’ buyer is described as a global leader of Internet of Things (IoT) software-as-a-service (SaaS) solutions that optimise the performance of mobile assets and resources to unify business operations. In partnership ... Read the full article
Swiss Re’s iptiQ and Emil Frey Group launch new digital insurance solution
9th March 2023
Emil Frey Group, a Swiss group of companies with various businesses in the automotive space, has partnered with iptiQ, Swiss Re's B2B2C digital insurer, to launch a digital insurance solution named Emily Frey protect. According to the announcement, this new partnership combines Emil Frey's customer-centric focus in the automotive market with ... Read the full article
Swiss Re & ICEYE provide parametric flood cover for NYC neighborhoods
7th March 2023
Guy Carpenter, Swiss Re Corporate Solutions, and ICEYE are set to provide technical assistance to the Centre for NYC Neighborhoods (CNYCN) on a new parametric product to protect high-flood-risk NYC neighborhoods. CNYCN has launched the new pilot project in partnership with the Mayor’s Office of Climate & Environmental Justice (MOCEJ), the ... Read the full article
Swiss Re closes $700m multi-year stop-loss transaction led by J.P. Morgan
7th March 2023
Global reinsurance giant Swiss Re has secured its second multi-year stop-loss transaction with funding led by J.P. Morgan, providing the reinsurer with USD 700 million in underwriting protection as it targets profitable growth in an attractive reinsurance market. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan ... Read the full article
Swiss Re partners with automotive tech firm Luminar
1st March 2023
Reinsurance giant Swiss Re and automotive tech firm Luminar have partnered to advance assisted driving and improve safety while reducing the costs of consumer adoption. Luminar notes that the first step of the joint initiative is to analyse the on-road performance and safety improvements of consumer and commercial vehicles equipped with ... Read the full article
Swiss Re names Monica Ningen CEO of US P&C Reinsurance
20th February 2023
Reinsurance giant Swiss Re has appointed Monica Ningen as CEO of US P&C Reinsurance, with Jolee Crosby set to take over Ningen’s former role as President & CEO of Swiss Re Canada & English Caribbean. As the new head of US P&C, Ningen will lead a team of client managers, claims ... Read the full article