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.
Asia faces mounting nat cat losses and resilience challenges: Swiss Re’s Victor Kuk
27th October 2023
In an interview with Reinsurance News, Victor Kuk, Head of Property & Casualty Reinsurance SID at Swiss Re, highlighted the escalating crisis of natural catastrophes in Asia. Kuk pointed out that over 30% of the global nat cat events in 2022 occurred in Asia, causing staggering economic losses. He emphasised that ... Read the full article
Appian & Swiss Re partner to launch new workbench for life insurance
26th October 2023
Appian, a software company that automates business processes, has announced the launch of the Connected Underwriting Life Workbench. The new workbench enables holistic underwriting automation and workload management to improve operational efficiency and underwriter experience as they would now have access to a single interface to evaluate and classify risk, handle ... Read the full article
Evolving risk landscape increasing demand for reinsurance in Europe: Swiss Re’s Steinmann
25th October 2023
Speaking with Reinsurance News amid the Baden-Baden 2023 conference, Swiss Re's Thorsten Steinmann suggested the main focus of discussions with clients ahead of the Jan renewals will be around the evolving risk landscape, which he said has driven more demand for reinsurance in Europe, alongside the cost of capital. When asked ... Read the full article
European reinsurers say the industry is “really piloting” the usage of AI
20th October 2023
As AI technology continues to be a key talking point across the re/insurance industry, major firms, Swiss Re and Munich Re have explained that the adaption of the technology within the sector remains within its early days and piloting stages. This was showcased at Swiss Re's Baden-Baden media conference, when Anne ... Read the full article
Swiss Re’s Steinmann: Hard market or new normal?
20th October 2023
During the Swiss Re 2023 Baden-Baden media conference, the question of the hard reinsurance market and its duration was raised ahead of the key January 1st, 2024, reinsurance renewals. "Are we in a hard market? Is the current environment the new normal? We actually don't know," stated Thorsten Steinmann, Swiss Re's ... Read the full article
To keep balance, there’s motivation to further increase attachment points: Swiss Re’s Steinman
18th October 2023
While progress was made at the January 1st, 2023, reinsurance renewals on shifting attritional losses back onto the balance sheets of primary insurers, there's motivation to further increase attachment points in certain areas, according to Thorsten Steinman, Head Property & Casualty Reinsurance, Northern, Central & Eastern Europe, Swiss Re. During this ... Read the full article
TCI expected to thrive amidst global economic slowdown and geopolitical flux: Swiss Re
17th October 2023
In a world marked by economic uncertainty and geopolitical tensions, trade credit insurance (TCI) is emerging as a crucial stabiliser of economic resilience, according to a report by the Swiss Re Institute. The study forecasts that TCI is set to grow despite a slowdown in global trade flows, driven by increasing ... Read the full article
Swiss Re expected to bolster casualty reserves by $2.1bn: Berenberg
13th October 2023
In a strategic move to fortify its financial position and mitigate the impact of ongoing challenges stemming from its US casualty exposure, Swiss Re is poised to strengthen its casualty reserves by an estimated $2.1 billion in the years 2023-2024, according to a Berenberg report. This move comes in the wake ... Read the full article
Digitalisation drives innovation and new risks in insurance industry: Swiss Re
11th October 2023
The insurance industry is undergoing a digital revolution, opening doors to innovation while simultaneously introducing new risks, according to the latest sigma study, "The economics of digitalization in insurance," by Swiss Re Institute. Digitalisation has allowed insurers to monitor, mitigate, and price risks more efficiently, leading to tailored insurance solutions that ... Read the full article
€1.9m project & risk transfer scheme aims to protect farmers in Uzbekistan
6th October 2023
The Insurance Development Forum (IDF), the United Nations Development Programme (UNDP), the German Government, and the government of Uzbekistan rcecently launched a €1.9 million project to develop and implement a sovereign risk transfer scheme for climate-vulnerable farmers in Uzbekistan. The idea is to create a multi-peril indemnity insurance solution that will ... Read the full article
Leading European insurers underwrite 30% of U.S. coal: Insure Our Future
28th September 2023
According to a new report by Insure Our Future, leading European insurers are underwriting nearly a third of U.S. coal production, despite their net zero commitments. As per the group's report, Lloyd’s of London, Zurich, and Swiss Re are among the top ten insurers of the 25 biggest U.S. mines. Insure Our ... Read the full article
IFRS 17 will be a positive change for Swiss Re L&H: CEO Paul Murray
20th September 2023
IFRS 17 changes create a lot of opportunity for reinsurers to help companies deal with the entwined disruption, suggested Paul Murray, CEO of Life & Health Reinsurance, Swiss Re, speaking with CNBC. Discussing the current outlook of the L&H reinsurance market, Murray told CNBC there are a lot of "tailwinds" at ... Read the full article
Architecture in place, but progress on closing protection gap frustratingly slow: Swiss Re CEO
19th September 2023
Swiss Re, one of the world’s largest reinsurance companies, is passionate about closing the protection gap, and although much of the architecture is in place, progress has been frustratingly slow, according to Chief Executive Officer (CEO), Christian Mumenthaler. The protection gap is the difference between economic and insured ... Read the full article
Swiss Re’s credit rating outlook revised to stable by AM Best
14th September 2023
Credits rating company AM Best has revised its outlook to stable from negative for the Long-Term Issuer Credit Ratings of Swiss Re and its rated operating affiliates, and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa” (Superior). The ratings reflect Swiss Re’s consolidated balance ... Read the full article
Swiss Re Reinsurance Solutions: A partner for more efficiency and innovation
13th September 2023
As the global reinsurance industry meets in Monte Carlo for the 65th edition of the Rendez-Vous de Septembre (RVS), we spoke with the Chief Executive Officer (CEO) of Swiss Re Reinsurance Solutions, Russell Higginbotham, about the division's value proposition and critical differentiators in an evolving industry. Greater efficiency and innovation were ... Read the full article
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