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.

QBE expands US FINPRO, adds Swiss Re’s Salvatore Samà to lead

9th April 2021

QBE Re, the reinsurance arm of Australian insurer QBE, has expanded its US Casualty treaty hub and appointed Salvatore Samà as Senior Vice President, Treaty Underwriting - FINPRO. Based in New York, Samà will take charge of driving the development and advancement of QBE Re’s US Financial and Professional Lines treaty ... Read the full article

Swiss Re backs disaster risk insurance scheme in Nagaland, India

31st March 2021

Swiss Re has been confirmed as the reinsurance partner to a new public-private disaster risk insurance scheme in the Indian state of Nagaland, which aims to increase the region’s climate resilience. The scheme is co-funded by InsuResilience Solutions Fund (ISF), an initiative managed by Frankfurt School of Finance and Management and ... Read the full article

Secondary perils behind $89bn cat loss in 2020: Swiss Re

30th March 2021

The latest sigma report from Swiss Re has estimated that global insured catastrophe losses totalled $89 billion in 2020 from 274 events, marking the fifth most costly year since its records began. Insured losses from natural catastrophes were $81 billion, the reinsurer said, with man-made disasters were the cause of the ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Swiss Re’s JV Movinx hires Carolin Gabo as CEO

22nd March 2021

Insurance intermediary and service provider Movinx has appointed Carolin Gabor as its new Chief Executive Officer. Gabor will be leading the company along with Sebastiaan Bongers in the role of Chief Product Officer and Andreas Roth as Chief Financial Officer. She will be responsible for the acceleration of Movinx’ expansion plans by ... Read the full article

Pandemic “reached the limits of insurability”: Swiss Re’s Kielholz

22nd March 2021

Swiss Re Chairman Walter Kielholz has said that the industry withdrawal from covering pandemic risk was “unavoidable” because this peril “once again reached the limits of insurability.” Writing as part of the reinsurer’s annual report for 2020, Kielholz noted that Swiss Re has been prepared for a severe pandemic scenario for ... Read the full article

Swiss Re Corporate Solutions launches Elevate platform

19th March 2021

Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re has launched its new platform Elevate to the middle market. Elevate leverages technology to make the insurance buying process simpler for customers and trading partners. Walt Sykes, Head Middle Corporate Business NA, Swiss Re Corporate Solutions commented: "Customers and trading ... Read the full article

Swiss Re notes long-term earnings potential, optimism for the year ahead

18th March 2021

Although global reinsurance giant Swiss Re fell to a net loss in 2020 on the back of a significant COVID-19 impact, the underlying business results remained strong and the company is optimistic about the future. Early this morning, Swiss Re published its 2020 Annual Report, Sustainability Report, and the agenda for ... Read the full article

Swiss Re & Hannover Re warn of COVID-19’s claim tail & litigation risk

17th March 2021

Two of the world's largest reinsurance firms are warning that while the immediate losses caused by the global COVID-19 coronavirus pandemic may be largely reserved for, both expect a longer-tail of exposure to develop over time. There is great uncertainty over the potential for the COVID-19 pandemic to drive losses to ... Read the full article

Swiss Re highlights alt capital as key segment of property cat, retro market

17th March 2021

A Swiss Re report has highlighted alternative capital (AC) as an important segment of the property catastrophe and retrocession market, representing 20-25% of global reinsurance capacity. The report also notes how AC prices typically move in parallel with traditional reinsurance so is experiencing rate hardening in line with the wider sector. In ... Read the full article

Swiss Re plans full coal exit in renewed climate push

16th March 2021

As part of its goal to transition towards net zero emissions, Swiss Re has revealed a new set of climate targets that include a full phase-out of thermal coal in treaty re/insurance by 2040. In 2023 Swiss Re will tighten its coal policy by introducing new thermal coal exposure thresholds for ... Read the full article

Swiss Re CorSo and Coalition deepen collaboration

12th March 2021

Global reinsurer Swiss Re's commercial insurance arm, Swiss Re Corporate Solutions, has entered into a new multi-year agreement with cyber insurance and security firm, Coalition, to provide broad cyber insurance and technology errors & omissions insurance to SMEs throughout the U.S. and Canada. Coalition launched back in 2017 with backing ... Read the full article

Japan’s earthquake protection gap estimated at $25bn by Swiss Re

11th March 2021

Swiss Re has estimated that the insurance protection gap for earthquake risk in Japan remains extremely high at $25 billion despite significant risk mitigation efforts and cultural preparedness. According to Swiss Re, underinsurance of seismic risk makes up the majority of Japan’s natural catastrophe protection gap, which is the second highest ... Read the full article

Swiss Re promotes Dua to Chief InfoTech & Data Officer, Reinsurance

9th March 2021

Reinsurance giant Swiss Re has added Samrat Dua to the newly created role of Chief InfoTech and Data Officer for Reinsurance and as a member of the Reinsurance Management Team, effective April 12th, 2021. In his new role, Dua and his team will be tasked with advancing the tech and data ... Read the full article

Swiss Re’s Haegeli calls for more “long-term vision” in response to COVID

2nd March 2021

Jerome Jean Haegeli, Group Chief Economist at Swiss Re, has argued that the COVID-19 pandemic has exposed the need for “more long-term vision” from both governments and corporations around the world. Haegeli called the crisis a “wake-up call” that has brought to light fundamental deficits in sustainable and resilience-driven ways of ... Read the full article