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.
COVID-19 P&C industry loss manageable at up to $80bn: Swiss Re CEO Mumenthaler
31st July 2020
Speaking this morning during his firm's earnings call, Swiss Re CEO Christian Mumenthaler said that the reinsurer believes the industry loss from the COVID-19 pandemic will come in under a "manageable" $80 billion. Swiss Re reported its H1 results this morning, confirming the $2.5 billion of pandemic related claims and ... Read the full article
Swiss Re’s P&C Re combined ratio deteriorates to 115.8% on COVID-19 losses
31st July 2020
Global reinsurance giant Swiss Re has reported a net loss of $1.1 billion for the first half of 2020 and a Property & Casualty Reinsurance (P&C Re) net loss of $519 million, driven by claims and reserves related to the ongoing COVID-19 pandemic. The reinsurer warned previously of a $1.1 billion ... Read the full article
Swiss Re makes key adjustments to Asia management team
30th July 2020
Global reinsurer Swiss Re has announced a number of changes to its Asia management team, due to be implemented in September. Mark Senkevics, who for the last decade has led Swiss Re in Australia and New Zealand across both life and health, as well as property and casualty businesses, will now ... Read the full article
LV= turns Swiss Re-reinsured longevity swap into £800m Phoenix Life buy-in
29th July 2020
The Trustee of the LV= Employee Pension Scheme has converted a longevity swap held with UK closed life book consolidator business ReAssure - and reinsured by Swiss Re - into a £800 million buy-in with Phoenix Life. Following the conversion to buy-in, Swiss Re will continue to cover the longevity risk ... Read the full article
Swiss Re completes sale of ReAssure to Phoenix Group
23rd July 2020
Global reinsurance giant Swiss Re has announced the completion of the sale of its ReAssure Group plc subsidiary to Phoenix Group Holdings plc, following the receipt of all regulatory and antitrust approvals. As previously announced, Swiss Re received a cash payment of £1.2 billion and shares in Phoenix representing a ... Read the full article
Swiss Re appoints Pranav Pasricha as Global Head P&C Solutions, Reinsurance
23rd July 2020
Global reinsurance giant Swiss Re has named Pranav Pasricha, current Chief Executive Officer (CEO) of Intellect SEEC, as Global Head P&C Solutions of the company's global Reinsurance arm, effective August 3rd, 2020. He takes over from Eric Schuh, who is leaving the reinsurer to take on an exciting new challenge outside ... Read the full article
Swiss Re’s H1 2020 COVID-19 impacts reach $2.5bn
23rd July 2020
Global reinsurance giant Swiss Re has announced significant claims and reserves related to the COVID-19 pandemic of $2.5 billion (pre-tax) in the first half of 2020. As a result of the high level of losses from the pandemic, Swiss Re expects to report a net loss of approximately $1.1 billion in ... Read the full article
AM Best revises Swiss Re’s issuer credit rating outlook to negative
21st July 2020
AM Best has revised Swiss Re's Long-Term Issuer Credit Rating to negative from stable due to pressure on operating performance assessment, following non-life underwriting losses in recent periods, partly driven by the casualty book of business. The ratings agency also affirmed Swiss Re's Financial Strength Rating (FSR) of A+ (Superior) and ... Read the full article
Re/insurance has major role in tackling climate change: Swiss Re’s Baertschi
20th July 2020
In the wake of the COVID-19 pandemic, the insurance industry must reflect on the lessons it has learned and take a stance as a major player in the fight against climate change. This is according to Urs Baertschi, Chief Executive Officer Reinsurance EMEA / Regional President EMEA at Swiss Re, who ... Read the full article
Swiss Re appoints Carlo Bewersdorf as CEO of iptiQ
20th July 2020
Global reinsurance giant Swiss Re has announced the appointment of Carlo Bewersdorf to the newly created role of Chief Executive Officer (CEO) of iptiQ, the reinsurer's digital insurance platform. Bewersdorf is set to take on the new role from October 1st, 2020 and will report to Swiss Re CEO, Christian Mumenthaler. ... Read the full article
Swiss Re lobbies against tighter immigration rules
17th July 2020
Swiss Re Chief Executive Christian Mumenthaler has stated that Switzerland’s re/insurance industry is opposed to tighter immigration proposals in the country. Speaking with Handelszeitung, Mumenthaler said restrictive immigration measures would be antithetical to the industry’s global outlook. Switzerland is set to vote later this year on a set of measures that could ... Read the full article
Swiss Re secures second private sidecar transaction with PGGM
16th July 2020
Global reinsurer Swiss Re has wrapped up its second private sidecar transaction with PGGM, increasing the Dutch pension fund manager's overall investment in the sidecar vehicle to over $500 million. Viaduct Re Ltd. is a special purpose insurer and segregated accounts company that provides PGGM access to a portion of Swiss Re’s core ... Read the full article
UBS, Swiss Re to partner on life insurance offering for mortgage clients
16th July 2020
Multinational investment bank UBS is joining forces with global reinsurer Swiss Re to launch a life insurance offering for property owners in Switzerland. The offering will allow UBS mortgage clients to insure against disability up to $640,000 and against death up to around $1 million. UBS supposedly wants to bake Iptiq, Swiss ... Read the full article
Global insurance premiums to recover in 2021 after COVID-19-induced dip: Swiss Re
9th July 2020
Global insurance premiums are expected to recover in 2021 after contracting this year on the back of a COVID-19-induced economic recession, according to the latest Swiss Re Institute sigma report. While expected to be short-lived, Swiss Re warns that this year's recession is set to be the deepest since the Great ... Read the full article
Swiss Re welcomes Arthur Levry as Head of West Africa
2nd July 2020
Global reinsurance giant Swiss Re has announced the appointment of Arthur Levry as its new Head of West Africa, effective July 1st, 2020. In his new role, Levry will be tasked with managing the advancement and development of property and casualty (P&C) and Life and Health (L&H) products and solutions across ... Read the full article
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