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.
2021 was “no outlier” for European cat losses: Swiss Re’s Reichelt
18th October 2021
With climate concerns growing across the re/insurance market, Swiss Re’s Frank Reichelt warns that secondary peril losses will inevitably grow, meaning a year like 2021 in Europe is “no outlier on a global scale.” With the January 2022 renewals coming up, reinsurance buyers are reflecting on what has been another active ... Read the full article
European climate losses to push rates at 1/1: Swiss Re’s Kramer
14th October 2021
Beat Kramer, Head Property Underwriting EMEA at Swiss Re, has said that he expects reinsurance rate increases to continue at the upcoming January renewals, in part due to the level of catastrophe losses experienced in Europe this year, which are viewed as having been exacerbated by climate change. Speaking during a ... Read the full article
Berenberg estimates Swiss Re’s cat losses will exceed 2021 budget
14th October 2021
Analysts at investment bank Berenberg have reduced its 2021 earnings per share (EPS) estimates by 20% as they expect catastrophe losses will exceed the cat budget again this year. This is due to the impact of hurricane Ida and the European floods. Currently, Swiss Re is the only European reinsurer to provide ... Read the full article
Swiss Re won’t provide cover to climate bad actors, says Ooi
13th October 2021
Sharon Ooi, Head of Australia & New Zealand at Swiss Re, says that the reinsurer is committed not to provide cover for “bad actors” in the fight against climate change. Speaking in a recent interview with The Australian Financial Review, Ooi said that Swiss Re’s climate policy aims to “ensure that ... Read the full article
Swiss Re eyes improved auto pricing with insurtech partnership
12th October 2021
Leading reinsurer Swiss Re is strategically partnering with traffic crash data and location risk analytics firm TNEDICCA in order for the latter's proprietary Location-Based Risk Score and location risk data to be integrated with the former's Motor Market Analyser (MMA) solution. It's hoped this partnership will enable insurance companies to more accurately ... Read the full article
Swiss Re’s iptiQ partners with UK medical network Square Health
11th October 2021
Customers of Swiss Re's iptiQ’s clients are set to receive value-add digital health benefits with Square Health, a leading network of UK medical professionals. Benefits include virtual 24/7 GP consultations, e-prescriptions, mental health support, bereavement counselling, wellness checks and dietician services. These services aim to reduce the amount of time needed to ... Read the full article
Swiss Re partners with Wysa for mental health app
8th October 2021
Swiss Re has partnered with mental health platform Wysa to create an insurance-specific app to help consumers better track their mental wellbeing and improve links to insurers’ existing support networks. A report by Swiss Re Institute noted that a number of 45 million consumers across six markets view a future negative ... Read the full article
Swiss Re and Munich Re rule out backing for Australian coal mutual
8th October 2021
Swiss Re and Munich Re have ruled out support for a controversial mutual fund proposed for the Australian coal industry due to their climate and coal policies would rule out their involvement in the scheme. The coal industry mutual fund has been touted as a potential solution to the insurance challenges ... Read the full article
Swiss Re joins insurtech Getsafe’s $93m Series B
7th October 2021
Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article
Climate transition plans vital as risk of fuel poverty looms: Swiss Re
6th October 2021
Swiss Re has underlined the “urgent need” for orderly climate change transition plans that invest more into renewables, as the energy crisis in Europe threatens to give rise to ‘fuel poverty’ and increase social tensions. In a new report, analysts note that energy prices have skyrocketed in recent weeks, as shortfalls ... Read the full article
Swiss Re pegs Hurricane Ida loss at $750mn
5th October 2021
Global reinsurance giant Swiss Re has announced that it expects an estimated impact of USD 750 million from Hurricane Ida, based on insurance and reinsurance industry losses of between USD 28 billion to USD 30 billion. Hurricane Ida made landfall as a Category 4 storm near Port Fourchon, Louisiana, about 60 ... Read the full article
Swiss Re and Claim Genius partner on AI motor solution
23rd September 2021
Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article
Debt surge in emerging markets may hurt insurance outlook: Swiss Re
20th September 2021
Analysts at Swiss Re have warned that the high levels of sovereign debt across emerging markets could impact the outlook for re/insurers in these regions through lower insurance demand and weaker investment returns. In a new report, Swiss Re Institute notes that emerging markets' sovereign debt is at the highest level ... Read the full article
Climate change is not a risk, it’s a fact: Swiss Re CEO Mumenthaler
16th September 2021
In a recent video interview for the Artemis Live series from our sister site, Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re, stressed that while the re/insurance industry certainly has a role to play, it is not the solution to climate change. The 2021 IPCC Climate Risk ... Read the full article
Swiss Re partners on digital motor product in France
14th September 2021
Swiss Re has announced a new partnership with community-based travel platform BlaBlaCar and motor insurance specialist L’olivier Assurance, the French branch of Admiral Group, to launch a digital motor product in France. The product, called BlaBlaCar Coach, is a smartphone app that offers drivers personalised coaching and tips for safer driving ... Read the full article