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.
Investing in climate adaption can create a competitive advantage: Swiss Re
17th January 2024
Climatic natural disasters caused global economic losses of $275 billion in 2022, and this trend is anticipated to continue as economic growth and property development increase the exposed economic value, according to Swiss Re. A new report, authored by Veronica Scotti, Chairperson, Public Sector Solutions, highlights how the ... Read the full article
Swiss Re purchases cyber market’s first retrocession ILW, brokered by Gallagher Re
16th January 2024
Global reinsurance firm Swiss Re has purchased the market’s first cyber retrocession industry loss warranty (ILW), securing $50 million of catastrophic US cyber insurance event protection. Cover also includes protection against widespread malicious ransomware or malware, prolonged catastrophic cloud outage and systemic data breach. Nick Meuli, Head of P&C Capacity Management at ... Read the full article
Indian insurance sector to be fastest growing among G20: Swiss Re
16th January 2024
The Indian insurance sector is expected to be the fastest growing among the G20 with total insurance premiums forecast to grow by 7.1% in real terms over 2024-2028, according to reinsurance giant Swiss Re. 7.1% growth over the next five years is well above the market averages for global of 2.4%, ... Read the full article
Swiss Re’s John Zhu highlights divergent interest rates for 2024
21st December 2023
Economies around the world and inflation are predicted to improve next year, which will lead central banks like the US Federal Reserve (Fed Reserve) to cut interest rates in 2024, although countries like China might do it sooner, while Japan could increase rates, Swiss Re’s John Zhu explained in a ... Read the full article
NN Group gets €13bn longevity risk transfer with Prudential and Swiss Re
20th December 2023
NN Group through its subsidiary NN Life has completed two transactions to transfer the full longevity risk associated with approximately €13 billion of pension liabilities in the Netherlands, to Prudential Insurance Company of America (Prudential) and global reinsurer Swiss Re. The transactions cover the longevity risk of approximately 300 thousand policies, ... Read the full article
Record cat bond issuance in 2023 signals stability in transfer of peak risks: Swiss Re
14th December 2023
In a year marked by unprecedented challenges, the catastrophe bond (cat bond) market has reached a historic high, with issuance hitting a staggering USD 15 billion in 2023, according to Swiss Re Institute. This surge not only reflects attractive conditions for investors but also underscores the increasing demand for transferring peak ... Read the full article
Swiss Re acquires flood risk modeller Fathom
14th December 2023
Global reinsurance giant Swiss Re has acquired Bristol, UK-based provider of water risk intelligence and flood models, Fathom, which will retain its own brand and work closely with the firm's Reinsurance Solutions division to further develop and distribute its innovative flood and climate risk data, maps, and models. Swiss Re says ... Read the full article
Insured losses will once again exceed $100bn in 2023: Swiss Re
7th December 2023
Analysis by Swiss Re, one of the world's largest reinsurers, reveals that natural catastrophes will once again break several loss records this year, as a high frequency of low single-digit billion-dollar loss events take insurance and reinsurance industry losses above the $100 billion mark for the fourth consecutive year. Economic losses ... Read the full article
As our climate warms we need to adapt as well as mitigate: Swiss Re’s Scotti
6th December 2023
As destructive weather-related events show less predictable patterns and continue to increase in frequency and severity amid the warming climate, Veronica Scotti, Chairperson, Public Sector Solutions, Swiss Re, has suggested that "we need to adapt as well as mitigate to make our world more resilient now." "Climatic natural disasters caused global ... Read the full article
Swiss Re sets IFRS net income target of over $3.6bn for 2024
1st December 2023
Global reinsurer, Swiss Re ahead of its transition from US GAAP to the IFRS accounting standard, has set a new IFRS target for net income of more than $3.6 billion for 2024. Simultaneously, the Life & Health Reinsurance segment is expected to contribute a net income of $1.5 billion, towards the ... Read the full article
Geopolitical tensions driving a decline of trust, says Swiss Re’s Mumenthaler
30th November 2023
Speaking on a panel on day two of The Geneva Association's 50th Summit in Zurich, Christian Mumenthaler, CEO of Swiss Re, said that amid the current geopolitical tensions, many investors are turning negative on risk-taking assets, preferring risk-free assets, which is contrary to what has occurred in the last decade. Discussing ... Read the full article
No escaping net zero transition as pressure mounts, says Swiss Re CEO
29th November 2023
In the minds of the leaders of some of the world’s largest companies, there’s no doubt the transition to net zero will happen, but it’s important people understand the consequences of the steps, according to Christian Mumenthaler, CEO of Swiss Re. Speaking on a panel this morning at the Geneva Association’s ... Read the full article
“COP28 offers nations a chance to re-centre their climate compass”: Swiss Re’s Mumenthaler
27th November 2023
COP28 offers leaders ”another chance to refocus their efforts to tackle greenhouse gas emissions and spur a just energy transition” Swiss Re CEO Christian Mumenthaler has highlighted ahead of the climate meeting. The world is currently experiencing uncertainty brought by war, geopolitical fragmentation and cultural conflict, yet the existential threat of ... Read the full article
Athene reinsures Japanese life risks for FWD. Swiss Re provides mortality retro
27th November 2023
Life and retirement specialist Athene Holding Ltd., which is a Bermuda based subsidiary of global asset manager Apollo, has completed its first block reinsurance transaction in Japan, covering an in-force block of life insurance policies for FWD Life Insurance Co. Ltd. Japanese domiciled insurer FWD Life Insurance Co. Ltd. is part ... Read the full article
Berkshire Hathaway exits India’s Paytm with $164mn sale
24th November 2023
Berkshire Hathaway, the Warren Buffett-run holding company, has exited India’s Paytm by selling its 2.5% stake in the digital payments service provider via a bulk deal on Friday. The company sold its entire stake in the digital payments firm for about 13.71 billion rupees ($164.70 million), as first reported by Reuters. According ... 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.
