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.
Non-life profitability to reach a trough in 2022, says Swiss Re Institute
25th November 2022
According to Swiss Re Institute's latest sigma report, global non-life insurance profitability will be challenged significantly in 2022 by weakness in both underwriting performance and investment results. Using a sample of the largest markets as a proxy for global profitability, analysts at the Institute estimate global non-life after-tax return-on-equity (ROE) at ... Read the full article
Industry returns driven by hard market: Goldman Sachs
23rd November 2022
A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article
Cyber changing rapidly but still fails to meet definition of insurability: Swiss Re
22nd November 2022
A new study from the Swiss Re Institute says that the insurance industry needs to adopt a new approach to cyber business amidst a changing landscape. The twenty-nine-page report, Cyber Insurance: Strengthening Resilience for the Digital Transformation, says that not only have cyber risk risen alongside geopolitical, economic instability, and reliance ... Read the full article
European reinsurers see earnings drop in first nine months of 2022: Fitch
18th November 2022
A new report from Fitch Ratings says that the earnings of Europe’s four main reinsurers fell over the first nine months of this year, compared to the same period in 2021. The firm said that this was because of higher natural catastrophe losses, weaker investment returns, and reserve strengthening. On average, ... Read the full article
BOC Aviation sues 16 insurance companies over Russia losses
16th November 2022
BOC Aviation, a Singapore-headquartered aircraft lessor, has begun legal action against 16 insurance companies, including Lloyd’s of London, Chubb European Group, AIG Europe and Swiss Re, over losses linked to Russia-Ukraine war, according to a Reuters report. The proceedings were issued in the High Court on November 3, 2022. In August, the ... Read the full article
COP27: Swiss Re’s Scotti urges re/insurers to fund climate adaptation projects
15th November 2022
Veronica Scotti, Chairperson for Public Sector Solutions at Swiss Re, has called for re/insurers to fund “transformative” climate adaptation projects to improve resilience, and says that the ongoing COP27 conference represents the “perfect opportunity” to drive this change. “Mitigation efforts aimed at cutting future emissions alone will not be enough," Scotti ... Read the full article
Swiss Re warns of inflationary risks to re/insurers
4th November 2022
A new report by Swiss Re Institute has warned of the risk posed to insurance and reinsurance companies by the prospect of inflationary recessions and financial instability. Analysts note that insurers and banks alike are finding it difficult to re-adjust to the new economic reality after a decade-long market reliance on ... Read the full article
Challenges of the moment shouldn’t distract from climate targets: Mumenthaler
3rd November 2022
Christian Mumenthaler, Group Chief Executive Officer at Swiss Re, has urged for more collaborative action from public and private sector interests towards meeting climate targets and reversing the harmful impacts of climate change. Writing as part of a recent blog post for Swiss Re, the CEO acknowledged that the immediate focus ... Read the full article
Swiss Re partners with insurtech Jooycar to boost auto insurance telematics
2nd November 2022
Global reinsurance giant Swiss Re has entered an alliance with Latin American auto insurtech Jooycar to boost auto insurance telematics benefiting small and medium-sized commercial fleets in Mexico. The insurtech will offer its fleet management service, "Fleetr by Jooycar", to the Mexican market, which it states was a success in its ... Read the full article
Swiss Re highlights need for solutions to digitalisation risks
31st October 2022
In Swiss Re's 'the perfect remedy for the risks posed by digitalisation' report, Group Chief Digital & Technology Officer, Pravina Ladva, and Antonio Grasso, digital entrepreneur, author, and founder & CEO, discuss how digital solutions can mitigate the risks of digitalisation. Grasso observes that while digitalisation has brought many benefits, it ... Read the full article
It’s clear reinsurers require better expected returns, says Swiss Re’s John Dacey
28th October 2022
John Dacey, Chief Financial Officer (CFO) of Swiss Re, has said it's clear that reinsurers require better expected returns on the business they write, suggesting it's going to be a challenging January 1st, 2023, reinsurance renewals amid a classic supply-demand imbalance. Early this morning, Swiss Re released its 9M 2022 ... Read the full article
Swiss Re announces 9M 2022 net loss as P&C sees large nat cat claims
28th October 2022
Global reinsurance giant Swiss Re has reported a net loss of $285 million for the first nine months of 2022, driven by a loss in the third-quarter of $442 million on the back of lower investment results and large natural catastrophe claims. The net loss of $285 million and a return ... Read the full article
Berenberg reflects on rates, Baden-Baden, and Hurricane Ian
24th October 2022
A new note from Berenberg says that rates remain under pressure while natural catastrophes for this year are poised to hit $100bn. The firm pointed to a press released put out by reinsurance giant Munich Re. It said Munich Re stressed that rates need to rise for a number of reasons. Berenberg ... Read the full article
Lack of trust in public institutions spills into view of insurers: Swiss Re
20th October 2022
Swiss Re's latest SONAR edition has identified eroding consumer trust in governments, public health institutions and medical science as an emerging risk. It also highlights that this lack of trust is inevitably spilling into how consumers view insurers. In times of crisis - the ongoing Covid-19 pandemic, the war in Ukraine, ... Read the full article
Swiss Re sees significant increase in demand for reinsurance protection
19th October 2022
Leaders at reinsurance giant Swiss Re continue to see strong and rising demand for reinsurance protection across all lines and regions on the back of the current high inflationary environment. This morning, Swiss Re hosted a media briefing ahead of the 2022 meeting of the reinsurance industry in Baden-Baden, a key ... Read the full article