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.
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
Swiss Re joins other major re/insurers in leaving Net-Zero Insurance Alliance
22nd May 2023
Global reinsurance giant Swiss Re is the latest company to announce it will leave the Net-Zero Insurance Alliance (NZIA), becoming the fourth major re/insurer to do so. Swiss Re was a founder member when the Net-Zero Insurance Alliance (NZIA) was launched at the G20 Climate Summit in Venice in 2021. At ... Read the full article
Reinsurance market faces challenges amid surge in cat losses, capital unwinding: Swiss Re
19th May 2023
In a challenging market environment, the reinsurance industry is grappling with significant hurdles as catastrophe losses surge and the reliance on external capital becomes increasingly vulnerable, according to Swiss Re's report titled "The State of the Reinsurance Property Catastrophe market." Over the past two decades, low interest rates have fueled a ... Read the full article
Karen Tan named CRO Life & Health Reinsurance at Swiss Re
19th May 2023
Karen Tan is set to start a new position at Swiss Re as CRO Life & Health Reinsurance, Member of the L&H EC. Tan joined Swiss Re as Chief Risk Officer for Asia Pacific in May 2014. In this role, her team worked to ensure that the business had the necessary ... Read the full article
Swiss Re estimates $200bn US cat reinsurance demand, expects 10-15% surge by 2024
18th May 2023
Swiss Re estimates that the US alone has approximately $200 billion in demand for catastrophe (cat) reinsurance, and with climate change, demographic shifts, and inflation expected to persist, there is projected to be a 10-15% increase in demand between 2023 and 2024. In its report called "The State of the Reinsurance ... Read the full article
Federal Life partners with Swiss Re for new digital-first insurance solution
16th May 2023
Federal Life Insurance Company, a provider of insurance and annuity products, has partnered with global reinsurer Swiss Re, and Reframe Financial, a top InsurTech company, to introduce Reframe LifeStage. According to the announcement, this innovative insurance plan has been designed for millennial and Gen X employees, offering a digital-first approach to ... Read the full article
Swiss Re announces the promotion of Peter Ott as its new Senior Pricing Officer
10th May 2023
Swiss Re has announced the promotion of Peter Ott as its new Senior Pricing Officer, effective from May 2023. Ott has been with Swiss Re little over a year, in his previous role with the company he served as the Senior Property Treaty Underwriter. His remit in the role included serving as ... Read the full article
1.4 methodical & measured as pricing momentum continued: Swiss Re
9th May 2023
"While 1.1 was quite uncertain, 1.4 was much more methodical, market and economic conditions and dynamics didn’t change dramatically, so the process was much more measured," suggests Gianfranco Lot, Chief Underwriting Officer P&C Reinsurance at Swiss Re. According to Lot, expectations were better managed for 1.4, as the 1.1 renewal enabled ... Read the full article
Swiss Re to reinsure parametric flood product in Kenya
9th May 2023
Global reinsurer Swiss Re is to provide reinsurance for a new index-based flood insurance solution in Kenya, which is set to be launched by Britam in partnership with Oxfam, and which aims to protect small-scale farmers from the impact of catastrophic floods. The solution, developed by Nairobi-based insurer Britam, uses data ... Read the full article
Swiss Re Asia names Deanna Ong as new Chair
5th May 2023
Swiss Re has announced the appointment of Deanna Ong as Chairperson of the Board of Directors for its Asian business, Swiss Re Asia Pte. Ltd. (SRAL). Ong, who serves as a Director of both SRAL and Swiss Re, will succeed outgoing Chair Lim Siong Guan as of May 1st, 2023. Lim Siong ... Read the full article
Swiss Re continues to anticipate US recession in second half of 2023
4th May 2023
Despite noting that current US financial market pricing does not signal expectations of recession, Patrick Saner, Head Macro Strategy within Group Economic Research and Strategy at Swiss Re, still anticipates a US recession later this year. Saner highlights the fact that the global economy and financial markets have been struck by ... Read the full article
Swiss Re hails robust price improvements as Q1 net income hits $643m
4th May 2023
Swiss Re, one of the world's largest reinsurance companies, has today reported net income of $643 million for the first quarter of 2023 compared with a loss of $248 million a year earlier, as the firm's property and casualty (P&C) reinsurance combined ratio improved despite elevated nat cat activity. Group-wide, net ... Read the full article
Large losses to come in above budget for Europe’s big four reinsurers in Q1: BofA
3rd May 2023
Bank of America (BofA) estimates that European reinsurance results will fail to hugely impress against already-high expectations for the sub-sector, while analysts expect that all four major European reinsurance companies will have exceeded their Q1 large losses budget. The key factor for these losses according to the bank is natural disasters. ... Read the full article
Swiss Re hands Patrick Roder Head Casualty Underwriting role for EMEA
2nd May 2023
Global reinsurer Swiss Re has announced the appointment of Patrick Roder as Head of Casualty Underwriting for Regional Markets in Europe, the Middle East and Africa (EMEA). Roder has served as Head of Casualty Research and Development (R&D) since re-joining Swiss Re in July 2021, having previously worked at the reinsurer ... Read the full article
A repricing of nat cats will depend on both short & near-term results: Swiss Re CorSo’s Nusslein
28th April 2023
With the re/insurance industry having faced two of the costliest events on record within the last year, through both hurricane Ian and the recent earthquakes that struck Turkey, Swiss Re Corporate Solutions’ Head Innovative Risk Solutions Americas, Bob Nusslein, explained in an interview with Reinsurance News about how the global ... Read the full article
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