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 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
Swiss Re targets advanced flood risk management with ICEYE partnership
2nd March 2021
Global reinsurer Swiss Re has advanced its natural catastrophe services via a new strategic partnership with ICEYE, the world's largest commercial synthetic-aperture Radar (SAR) satellite operator and flood monitoring provider. Building on ICEYE's technology, the new partnership aims to advance flood risk management, assist disaster response and speed up claims payments ... Read the full article
As the world reopens, event cancellation coverage will be an issue: Mumenthaler, Swiss Re
19th February 2021
The significant and unexpected impacts of the global COVID-19 pandemic on the property and casualty (P&C) space suggest that once the world reopens, event cancellation coverage will either be very expensive or excluded altogether, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. In announcing its full-year 2020 ... Read the full article
Swiss Re falls to net loss for 2020 as COVID claims & reserves hit $3.9bn
19th February 2021
Global reinsurance giant Swiss Re has reported a Group net loss of $878 million for 2020 as COVID-19 claims and reserves increased to $3.9 billion across the business. Excluding the impacts of the pandemic, and Swiss Re's net income amounted to $2.2 billion for the year, which is a significant increase ... Read the full article
Swiss Re CorSo appoints Andrew Dougall to lead global casualty
17th February 2021
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has appointed Andrew Dougall as Global Head Casualty. Effective 22 February, Dougall will be responsible for driving the success and overall profitability of the bespoke casualty portfolio globally. He will also lead a global team of underwriters and work with ... Read the full article
Importance of alternative reinsurance capital growing for Swiss Re: ILS NYC 2021
16th February 2021
At Swiss Re, alternative, or third-party reinsurance capital has become an increasing part of the reinsurance giant's capital management strategy, and as the insurance-linked securities (ILS) asset class looks to longer-tail classes, the firm is focused on finding ways to transfer risk efficiently. This is according to Judy Klugman, Global ... Read the full article
Swiss Re partnership targets breakthrough in life insurance underwriting
2nd February 2021
Swiss Re is partnering with health data specialist Diameter Health on a scalable solution that leverages electronic clinical health data for life insurance underwriting. It’s hoped the partnership will transform complex clinical electronic health data into organised, usable information thus accelerating Swiss Re’s efforts to help life insurers improve the speed ... Read the full article
Swiss Re CorSo names Melanie Slack Head UK, Ireland, SA & EMEA Wholesale
1st February 2021
Reinsurance giant Swiss Re's commercial insurance arm, Swiss Re Corporate Solutions (Swiss Re CorSo), has named Melanie Slack as Head UK, Ireland, SA & EMEA Wholesale, effective May 1st, 2021. Slack joined Swiss Re back in 2001, where she gained global experience in numerous senior management roles in underwriting, internal audit, ... Read the full article