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 expects P&C Re underwriting performance to improve in 2021
20th November 2020
Global reinsurance giant Swiss Re has said that it expects its property and casualty reinsurance (P&C Re) normalised combined ratio to improve to 96% or less in 2021, as the firm pursues targeted growth in a hardening marketplace. The Switzerland-based reinsurer is holding its Investor Day today, during which the company ... Read the full article
Swiss Re appoints Agis Kitsikis as Head of Client Markets
17th November 2020
Global reinsurer Swiss Re has announced the appointment of Agis Kitsikis as Head of Client Markets P&C for Canada and English Caribbean. Kitsikis’ role will start immediately and he succeeds Stefan Behr, who recently accepted the position as Swiss Re's Head of Business Development for EMEA. In his role Kitsikis will lead ... Read the full article
We need to refuel fiscal & monetary tanks, then upgrade the engine: Swiss Re’s Haegeli
13th November 2020
The impact of the ongoing COVID-19 pandemic has emptied global monetary and fiscal tanks and once refuelled, it would be wise to upgrade the engine, according to Swiss Re’s Chief Economist, Jérôme Jean Haegeli. Speaking with Reinsurance News around the launch of Swiss Re’s latest sigma publication, Haegeli stressed that it’s important to ... Read the full article
Pandemic shock less severe than feared for re/insurers: Swiss Re
11th November 2020
A new sigma study by Swiss Re is forecasting global insurance premium growth of 3.4% in real terms in 2021, following a contraction of 1.4% this year due to the impact of the COVID-19 pandemic. The decline was less severe than the 2.8% drop predicted by Swiss Re earlier this year, ... Read the full article
Swiss Re adds Matthias Meyenhofer to Reinsurance EMEA
6th November 2020
Matthias Meyenhofer has joined Swiss Re's Reinsurance EMEA division as Head of Large P&C Transactions Continental Europe, effective from November 1st. In his new role, Meyenhofer will be based in Zurich and will report to Nikhil da Victoria Lobo, Head Western & Southern Europe, and will also work closely with the ... Read the full article
COVID drags Swiss Re to a $691mn 9M loss
30th October 2020
Global reinsurer Swiss Re has reported a $691 million net loss for the first nine months of 2020, compared to a $1.3 billion profit registered over same period in 2019. Much of Swiss Re's performance so far in 2020 has been heavily impacted by the COVID-19 pandemic. Property & Casualty Reinsurance fell ... Read the full article
Swiss Re joins global health coalition, opens up data & analytics platform
28th October 2020
Global reinsurer Swiss Re has joined a global coalition that aims to better predict and prevent outbreaks, epidemics and pandemics by leveraging data and analytics. The Trinity Challenge members include the likes of Google, Microsoft and Facebook, GlaxoSmithKline, McKinsey & Company, the Gates Foundation, the University of Cambridge and Imperial College ... Read the full article
AM Best assigns strong credit ratings to Swiss Re-backed Coefficient
26th October 2020
AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” to Coefficient Insurance Company. The outlook assigned to these ratings is stable. Coefficient, a Verily subsidiary focused on employer stop-loss, is backed by Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant ... Read the full article
Swiss Re Capital Markets announces $775m cat bond for Cali Earthquake Authority
23rd October 2020
Swiss Re Capital Markets, a division of the global reinsurance giant, has announced the successful structuring and placement of $775 million in insurance-linked securities by Ursa Re II Ltd. The catastrophe bond will be used for the protection of the California Earthquake Authority (CEA). CEA protects policyholders in California against earthquakes and ... Read the full article
Swiss Re backs parametric quake product by Cover Genius & QuickBooks
23rd October 2020
Insurtech firm Cover Genius has teamed up with Intuit to offer a new parametric earthquake policy, which is backed by capacity from Swiss Re and underwritten by Palomar Excess and Surplus Insurance Company. Cover Genius intends to offer a range of insurance products to customers using QuickBooks, an accounting software package ... Read the full article
China’s motor insurance reforms a win for consumers, insurers: Swiss Re
20th October 2020
While recent motor insurance reforms in China will likely result in increased price volatility and premium growth slowdown in the near term, both consumers and insurers will benefit in the longer term, according to analysis from Swiss Re Institute. China is the second largest car ownership market in the world, with ... Read the full article
COVID losses to converge towards industry estimates in Q3: Berenberg
16th October 2020
While total insured COVID-19 losses still remain substantially below the consensus industry loss estimates, analysts at Berenberg expect the figures to begin to converge over the Q3 reporting season. Insurance losses reported to date stand at around $25 billion, which is far short of the lower end of Berenberg’s estimate ($50-70 ... Read the full article
US social inflation continues to erode reserving buffers: Jefferies
13th October 2020
Analysts at Jefferies have noted that US social inflation has continued in 2020, amidst the uncertainty of COVID-19 and the extremely active Atlantic hurricane season. Social inflation has, say analysts, resulted in persistent eroding of reserving buffers and is also driving casualty insurance prices. Recent data shows that securities class actions and ... Read the full article
Global P&C premiums to rebound by 3.8% in 2021: Swiss Re’s Haegeli
13th October 2020
After a moderate reduction in global non-life insurance premium growth this year, owing to the ongoing pandemic, Swiss Re Institute expects global property and casualty (P&C) premiums to rebound strongly by 3.8% in 2021. Recent analysis by Swiss Re's Group Chief Economist, Jerome Haegeli, explores the potential for non-life insurance market ... Read the full article
Swiss Re & Daimler launch automotive and mobility insurance MGA, Movinx
12th October 2020
Global reinsurance giant Swiss Re has entered into a strategic partnership with Daimler Insurance Services to launch a new company called Movinx, an insurance intermediary and service provider designed to transform and innovate automotive and mobility insurance. Both Swiss Re and Daimler are 50/50 shareholders of the new joint venture, which ... Read the full article