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.
Climate change threatens electric grid resilience, urging insurance-backed adaptation: Swiss Re
10th July 2024
According to Mitali Chatterjee, Insurance Research Manager at Swiss Re, the global reinsurer, climate change is intensifying severe weather events worldwide, significantly impacting the electric grid, emphasising the need of insurance in funding adaptation efforts and enhancing infrastructure resilience. An analysis of US power outages from 2012 to 2023 indicates that ... Read the full article
AXA tops list of largest European insurers ranked by GPW
9th July 2024
When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion. AXA also recorded $42.3 billion in capital & surplus from the same year. Based on data from ratings agency AM Best, our directory of ... Read the full article
Identifying minor risks to prevent future challenges: Raaflaub, Swiss Re
5th July 2024
Patrick Raaflaub, Group Chief Risk Officer at Swiss Re, emphasises the importance of promptly identifying minor risks and initiating early discussions on effective management strategies to prevent them from becoming unmanageable in the future. Raaflaub illustrates this point with the Schweizerhalle catastrophe, which, nearly four decades later, still demonstrates the consequences ... Read the full article
Wind energy producers and insurers need to monitor changing climate: Swiss Re
4th July 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist, Swiss Re, states: "The intensity of storms is anticipated to increase, with stronger gusts and more ... Read the full article
Swiss Re’s US P&C outlook remains favourable following best Q1 in over 15 years
25th June 2024
After consistently weak sector results for almost two years, the US P&C insurance industry registered its best opening quarter underwriting result in over 15 years in 2024, according to a new report from Swiss Re. The re/insurer observed that strong premium gains and easing claims cost inflation contributed to a combined ... Read the full article
Electric vehicle surge drives insurance market highs: Swiss Re
24th June 2024
In a recent report, the reinsurance company Swiss Re forecasts a 30 percent annual growth in global electric vehicle (EV) sales until 2030, propelling the EV insurance market to surpass USD 200 billion by 2030, up from USD 51 billion in 2022. This surge in the market is influenced by shifting ... Read the full article
New Swiss Re CEO to drive reliable earnings and capital returns: JP Morgan
20th June 2024
With Andreas Berger taking over as Swiss Re CEO in July, analysts at JP Morgan have suggested his track record of delivery should be a catalyst for the firm to become a more reliable source of earnings and ultimately capital returns. Berger has run the primary insurance operations of Swiss Re's ... Read the full article
Swiss Re signs 70,000 tonne Biochar Carbon Removal deal with Carbonfuture
19th June 2024
Reinsurance giant Swiss Re and carbon removal solutions provider, Carbonfuture, have signed a seven-year contract, which will see Swiss Re supply a minimum of 70,000 tonnes of Biochar Carbon Removal (BCR) credits from Carbonfuture partner, Exomad Green’s new Riberalta facility in Bolivia. Readers will be aware that this is not the ... Read the full article
Extreme heat triggers combined insurance loss of income policy pay out to over 46k women in India
18th June 2024
Thousands of low-income women based in India are receiving assistance to deal with the economic and health effects of the extreme heat temperatures that are currently gripping the country. From what we understand, extreme heat temperatures in India triggered insurance and cash payments in 22 districts across the states of Rajasthan, ... Read the full article
Swiss Re & Appian expand partnership for underwriting workbench in EMEA & Asia
13th June 2024
In partnership with reinsurer Swiss Re, Appian, a technology company known for its software solutions, is expanding its Connected Underwriting Life Workbench solution into select countries across Asia Pacific, Europe, the Middle East, and Africa (EMEA). Integrated with Swiss Re's automated life insurance underwriting solution, Magnum, the Appian Connected Underwriting Life ... Read the full article
Swiss Re warns that inflation will impact hurricane-related losses as active storm season looms
12th June 2024
Insured losses from hurricane events - which are expected during what is predicted to be a very active 2024 Atlantic Hurricane season - will be particularly impacted by demand surge related cost increases for building materials and labour, according to Swiss Re. This result is predicted mainly due to the impact ... Read the full article
Natural disasters threaten supply chains & economic stability: Swiss Re
12th June 2024
Increasing weather-related natural disasters not only cause property damage but also pose serious risks to supply chains, leading to business interruptions and potential economic slowdown, according to Swiss Re’s 2024 SONAR report. Swiss Re highlights that wildfires can contaminate water sources or disrupt access to them. Similarly, floods and storms can ... Read the full article
Managing the rising risks of SRCC: Pande, Swiss Re
10th June 2024
According to Mohit Pande, Chief Underwriting Officer of Property at Swiss Re, the impacts of Strikes, Riots, and Civil Commotion (SRCC) are at an all-time high, underscoring the urgent need for effective risk management and mitigation strategies within the re/insurance industry. Pande states, “From the French riots in 2023 to the ... Read the full article
Appian & Swiss Re expand Connected Underwriting Life Workbench to Asia & EMEA
5th June 2024
Following the launch of Connected Underwriting Life Workbench in North America last year, Appian, a software company that automates business processes, in partnership with Swiss Re, has made the solution available in select countries in Asia Pacific, Europe, Middle East and Africa (EMEA). Integrated with Swiss Re’s automated life insurance ... Read the full article
Swiss Re calls for industry focus on European catastrophe loss creep issue
5th June 2024
Swiss Re has proposed an industry focus on the issue of loss creep after natural catastrophe events in Europe, calling it an industry-wide phenomenon, which shows the "pressing need" for a more precise reserve setting after nat cat events. The reinsurance giant explained that achieving this requires up-to-date valuations of what ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
