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 selects mea platform’s GenAI solution to enhance operations
17th September 2024
mea, a GenAI-powered global platform for insurers, has announced that Swiss Re has selected its platform to enhance its insurance and reinsurance operations, strengthening their existing partnership. This expanded partnership builds on their successful collaboration that began in July 2023, when Swiss Re first selected mea for its Corporate Solutions business. ... Read the full article
Long-term COVID effects may lead to elevated mortality in US & UK: Swiss Re
16th September 2024
If the ongoing impact of COVID-19 is not curtailed, excess mortality rates in the general population may remain up to 3% higher than pre-pandemic levels in the US and 2.5% in the UK by 2033, as per a report from the Swiss Re Institute. According to the report, typically, all-cause excess ... Read the full article
Rise in P&C demand in a volatile market draws attention at RVS’24: Swiss Re
9th September 2024
Swiss Re expects growing demand for reinsurance protection to be a key topic of discussion at the 2024 Rendez-Vous de Septembre. As it has been noted, there has been a growing demand for protection in property and specialty lines driven by elevated natural catastrophe risks, macroeconomic instability and politically charged environment Urs ... Read the full article
Social inflation drives US liability claims to reach annual peak of 7% in 2023: Swiss Re
7th September 2024
Social inflation has become the main growth driver of US liability claims, with a rising number of large court verdicts pushing claims in the US to increase by 57% in the past decade, ultimately causing them to peak at 7% in 2023, the first time seen in two decades, according ... Read the full article
Change in life savings market presents opportunity to reduce pensions gap: Swiss Re
6th September 2024
Annuities sales in the United States have reached their highest levels, surpassing all previous records, with the United Kingdom experiencing a similar trend in life-saving product sales, following a similar trajectory, Swiss Re has revealed. This presents a vital opportunity to reduce the pensions gap, analysts highlight. At the same time, ... Read the full article
Risk sharing between insurers and reinsurers has stabilised: Urs Baertschi, CEO P&C Reinsurance, Swiss Re
5th September 2024
After reinsurers tightened terms and conditions and raised attachment points to move away from rising so-called secondary peril losses, primary insurers have now caught up and understand what it means to have higher volatility in the frequency space, according to Urs Baertschi, CEO of P&C Reinsurance at Swiss Re. Read the full article
Munich Re & Swiss Re remain the world’s largest reinsurers
3rd September 2024
Reinsurance giant's Munich Re and Swiss Re remain the two largest global reinsurers across the globe according to data from ratings agency AM Best. In prior years, the agency ranked the top 50 global reinsurers in a single list, but now, with the adoption of IFRS 17, the ... Read the full article
Microsoft hails successful rollout of Copilot for 365 at Swiss Re
3rd September 2024
Copilot for Microsoft 365 has been successfully adopted by 3,000 users at reinsurance giant Swiss Re, with plans to expand its usage across the firm's entire workforce. According to Microsoft, this deployment marks a significant milestone in the strategic partnership between the two companies and highlights the power of smart AI ... Read the full article
Munich Re using less retrocession compared with others in Big Four: AM Best
2nd September 2024
According to a new report from AM Best, Munich Re reportedly makes "relatively little use" of retrocession compared with Swiss Re, SCOR and Hannover Re. AM Best's report observed that Swiss Re has shifted in recent years to increase its use of retrocession protection, while significant use has long been ... Read the full article
Reinsurers’ financial strength & diversification key to mitigating cat losses: Swiss Re
28th August 2024
After reinsurers paid over $150 billion in global claims across property, casualty, and specialty lines in 2023, Swiss Re's Urs Baertschi has emphasised the industry's critical role as a shock absorber, a springboard for addressing the protection gap, and a compass for data-driven decision-making. Writing in a blog post for Swiss ... Read the full article
Swiss Re reiterates financial targets amid challenging macroeconomic & geopolitical environment
27th August 2024
Swiss Re has reiterated its 2024 financial targets, including Group net income of more than USD 3.6 billion, following the announcement of its H1 2024 results last week, which were strong despite reserve additions. The global reinsurer reported profit of USD 996 million and net income of USD 2.1 billion, ... Read the full article
Swiss Re reveals new advanced tool for evaluating coronary artery disease risk
27th August 2024
Swiss Re, a global reinsurer, has introduced an upgrade to its Life Guide underwriting manual, specifically enhancing the coronary artery disease (CAD) calculator. This advanced tool is now available to more than 25,000 Life Guide users across 800 companies in 100 countries. The enhanced CAD calculator is designed to simplify the underwriting ... Read the full article
P&C reinsurance market is reaching a new level of equilibrium, says Swiss Re CFO
23rd August 2024
The primary insurance market now understands that price increases in property and casualty (P&C) reinsurance are needed going forwards, with the market now "reaching a new level of equilibrium", according to Swiss Re's Chief Financial Officer (CFO), John Dacey. In a recent interview with CNBC International News following the release of ... Read the full article
Swiss Re will remain cautious, but ability to absorb a major event is substantial: CFO Dacey
22nd August 2024
John Dacey, Group Chief Financial Officer (CFO) of Swiss Re, has said that the firm was surprised at the relatively low set of natural catastrophe losses it incurred in the first half of the year, and while the reinsurer's ability to absorb a major event in the second half of ... Read the full article
Swiss Re’s Lubomir Varbanov expands role to oversee global MDB collaboration
22nd August 2024
Lubomir Varbanov is assuming additional responsibilities at Swiss Re, expanding his current role as Managing Director, Head of Public Sector Solutions for Asia Pacific to include global accountability of the company's work with Multilateral Development Banks (MDBs). In a recent LinkedIn post, Veronica Scotti, Chairperson Public Sector Solutions at Swiss Re, ... Read the full article
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