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.
Swiss Re’s Q1 net income hits $333m despite over $1bn of COVID & cat losses
30th April 2021
Global reinsurance giant Swiss Re has reported net income of $333 million for the first quarter of 2021 against a loss of $225 million in the prior year period, despite losses related to COVID-19 and large natural catastrophes of more than $1 billion. Alongside growth in net income across the Group, ... Read the full article
COVID-19 creates disruption in infrastructure investment: Swiss Re
22nd April 2021
Global reinsurer Swiss Re has released a report which shows a short-term disruption in infrastructure investment as a result of COVID-19, however the reinsurer noted that the long-term trend has remained the same. It also expects the growth in infrastructure investment to resume this year as the vaccination roll-out enables economies ... Read the full article
Failure to act on climate change could wipe 18% off global GDP by 2050: Swiss Re
22nd April 2021
Failure to take appropriate action against the impacts of climate change poses a significant threat to the global economy, with GDP potentially shrinking by as much as 18% over the next three decades if no preventive measures are taken, according to stress-test analysis by Swiss Re Institute. The global reinsurance giant ... Read the full article
Swiss Re joins auto tech firm Veoneer to further road safety solutions
20th April 2021
Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article
Swiss Re shareholders elect Ermotti as Chair; Kielholz named Honorary Chairman
16th April 2021
Shareholders of reinsurance giant Swiss Re today approved all proposals put forward by the company's Board of Directors at the Annual General Meeting (AGM) held in Zurich; marking the election of Sergio P. Ermotti as successor to Walter B. Kielholz as Chairman of the Board. Swiss Re announced in early ... Read the full article
Bindable partners with Swiss Re’s iptiQ
16th April 2021
Insurance technology firm Bindable has entered into a strategic partnership with Swiss Re’s iptiQ, a digital life and health insurance platform. The new strategic relationship includes a minority investment by iptiQ in Bindable and will help insurance carriers and agents expand their distribution channels across the US. The partnership extend to brands, ... Read the full article
Analysts predict “underwhelming” quarter for Swiss Re
15th April 2021
Analysts at Deutsche Bank are predicting that Swiss Re will deliver “another set of underwhelming numbers” for the first quarter of 2021, following an active period for catastrophe losses, with Barclays estimating a loss of $368 million. Assuming an industry loss of $15 billion for the winter weather that affected Texas, ... Read the full article
Captive insurance thriving in hard market: Swiss Re
14th April 2021
Analysts at Swiss Re Institute have reported that companies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance. According to new research, captive insurer use is expanding to Asia and Latin America, and to mid-sized companies, for which new business models for ... Read the full article
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