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 delivers solid 9M’24 net income as P&C underwriting result more than offsets reserve strengthening
14th November 2024
Global reinsurer Swiss Re generated a net income of $2.2 billion and $102 million for the first nine months and third quarter of 2024, respectively, despite the previously announced addition of $2.4 billion to its prior year US liability reserves. Swiss Re announced earlier this month that it strengthened its ... Read the full article
Indonesia’s Indian Ocean tsunami losses equivalent to $20bn today, says Swiss Re
12th November 2024
Indonesia’s economic losses from the 2004 Indian Ocean tsunami, which amounted to USD 4.5 billion at the time, would equate to approximately USD 20 billion today when adjusted for GDP growth and inflation, according to a recent Swiss Re Institute article. Authored by Chandan Banerjee, Natural Catastrophe Economist; Lucia Bevere, Senior ... Read the full article
Flood preparedness to benefit re/insurers & policyholders: Swiss Re Institute
11th November 2024
While protective measures like dykes, dams, and floodgates can be expensive, their financial benefits can outweigh post-disaster rebuilding expenses by up to ten times, according to a new study from the Swiss Re Institute. The firm observed that economic losses caused by natural catastrophes reached an estimated $280 billion in 2023, ... Read the full article
Jonathan Rake to become CEO of Swiss Re Solutions as Russell Higginbotham departs
8th November 2024
Russell Higginbotham is leaving reinsurance giant Swiss Re after three decades with the company, with Jonathan Rake taking over as Chief Executive Officer (CEO) of Swiss Re Solutions, effective January 1st, 2025. Rake joined Swiss Re from Zurich in 2016 as CEO Singapore, Head of South East Asia, and since July ... Read the full article
Swiss Re strengthens P&C Re reserves by $2.4bn in Q3’24
7th November 2024
Reinsurance giant Swiss Re has strengthened its property and casualty reinsurance (P&C Re) reserves by an additional $2.4 billion in the third quarter of 2024, following a comprehensive review of its prior year US liability reserves. This brings the reinsurer’s P&C Re total reserve additions to $3.1 billion for the first ... Read the full article
Swiss Re to sell iptiQ’s Euro P&C business to Allianz Direct
5th November 2024
In line with its strategic decision to withdraw from iptiQ, Swiss Re has agreed to sell the digital insurer's European P&C business to Allianz Direct, the pan-European online insurer of Allianz Group. iptiQ is a carrier based in Luxembourg that partners with other insurers, brokers, banks and consumer brands to deliver ... Read the full article
We expect a stable 1.4 renewal as demand for re/insurance continues to rise in Japan: Swiss Re’s Dodo
5th November 2024
Global reinsurance giant Swiss Re continues to see increased demand for property insurance and reinsurance protection in Japan amid elevated large natural catastrophe threats and the impact of inflation, and with little sign of a significant influx of capital heading into 2025, the expectation is for a stable April 1st ... Read the full article
Alternative capital has become a key tool for resiliency: Rapin, CEO, Nephila Climate
21st October 2024
At the latest Baden-Baden Reinsurance Symposium hosted by Guy Carpenter, the reinsurance broking arm of Marsh McLennan, Maria Rapin, Chief Executive Officer (CEO) of Nephila Climate, has highlighted the increasing role of alternative capital in the market’s ability to absorb the financial impacts of expanding crises. “The reinsurance industry has demonstrated ... Read the full article
SRCC claims are going to rise in more unstable world: Swiss Re’s Nikhil da Victoria Lobo
17th October 2024
At Swiss Re’s Baden-Baden media conference, Nikhil da Victoria Lobo, Head of P&C Reinsurance for Western & Southern Europe, Middle East & Africa, emphasised that rising global instability will lead to more Strikes, Riots, and Civil Commotion (SRCC) claims, stressing the importance of understanding risk accumulations and fostering partnerships to ... Read the full article
Climate-related disclosure data can help reveal insurers’ business-critical risk insights: Quiroga, Swiss Re
16th October 2024
Insurance and reinsurance companies can use climate-related disclosure data to reveal business-critical risk insights, point to growth opportunities and lift the quality of their underwriting, according to Swiss Re’s Paloma Quiroga. In a recent interview with Reinsurance News, Quiroga, Head Risk Consulting & Analytics explained that insurers face an array of ... Read the full article
Building resilience in APAC through $2 trillion annual infrastructure investment: Swiss Re
15th October 2024
Jimmy Lim, Head of Engineering Underwriting Asia at Swiss Re, stated that the Asian Development Bank estimates the Asia-Pacific (APAC) region needs to invest almost USD 2 trillion each year in infrastructure. This substantial investment is critical to supporting economic growth, addressing poverty, and combating climate change. As Lim states, "This represents ... Read the full article
Moody’s upgrades Swiss Re Corporate Solutions Brasil Seguros’ IFSR
9th October 2024
Moody’s Ratings has upgraded Swiss Re Corporate Solutions Brasil Seguros’ (SRCSB) financial strength rating (IFSR) to Baa2 from Baa3 and changed its rating outlook to stable from positive. This rating action follows Moody’s upgrade of the Government of Brazil's bond rating to Ba1 from Ba2, which also maintained a positive outlook. According ... Read the full article
Antimicrobial resistance, a challenge that needs multi-sector cooperation: Swiss Re
27th September 2024
Antimicrobial resistance (AMR), referred to as "the silent pandemic” by World Health Organisation (WHO), is an evolving risk with the potential to severely disrupt healthcare systems worldwide; a challenge that needs increased awareness and cooperation across sectors, Swiss Re’s Paul Murray has highlighted. Unlike COVID-19, “a pandemic that shouted in our ... Read the full article
Swiss Re CorSo announces new leadership roles for Hassan Karim & Devpriya Misra
23rd September 2024
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has expanded Hassan Karim’s role to Head of Customer & Distribution Management for Asia Pacific (APAC) and appointed Devpriya Misra as Client Solutions Lead. Before this expansion, Karim was the Head of Distribution Management & Partnerships for APAC, overseeing ... Read the full article
Resilient economy to drive strong insurance growth in India: Amitabha Ray, Swiss Re
20th September 2024
In a recent interview with Reinsurance News, Amitabha Ray, Market Head of India at global reinsurance giant Swiss Re, described India's economy as resilient despite the current high consumer price inflation, with insurance sector growth above the global trend expected in the region. Ray disclosed that total insurance premiums are projected ... Read the full article
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