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 announces 9M 2022 net loss as P&C sees large nat cat claims
28th October 2022
Global reinsurance giant Swiss Re has reported a net loss of $285 million for the first nine months of 2022, driven by a loss in the third-quarter of $442 million on the back of lower investment results and large natural catastrophe claims. The net loss of $285 million and a return ... Read the full article
Berenberg reflects on rates, Baden-Baden, and Hurricane Ian
24th October 2022
A new note from Berenberg says that rates remain under pressure while natural catastrophes for this year are poised to hit $100bn. The firm pointed to a press released put out by reinsurance giant Munich Re. It said Munich Re stressed that rates need to rise for a number of reasons. Berenberg ... Read the full article
Lack of trust in public institutions spills into view of insurers: Swiss Re
20th October 2022
Swiss Re's latest SONAR edition has identified eroding consumer trust in governments, public health institutions and medical science as an emerging risk. It also highlights that this lack of trust is inevitably spilling into how consumers view insurers. In times of crisis - the ongoing Covid-19 pandemic, the war in Ukraine, ... Read the full article
Swiss Re sees significant increase in demand for reinsurance protection
19th October 2022
Leaders at reinsurance giant Swiss Re continue to see strong and rising demand for reinsurance protection across all lines and regions on the back of the current high inflationary environment. This morning, Swiss Re hosted a media briefing ahead of the 2022 meeting of the reinsurance industry in Baden-Baden, a key ... Read the full article
Swiss Re expects Q3 net loss amid hurricane Ian claims of $1.3bn
18th October 2022
Global reinsurance giant Swiss Re expects to report a net loss of $500 million for the third quarter of 2022 on the back of hurricane Ian related claims of a huge $1.3 billion, net of reinsurance and before tax. Swiss Re is the first large, global reinsurer to announce its preliminary ... Read the full article
Munich Re & Swiss Re to bear largest market share of Ian losses: JP Morgan
13th October 2022
Basing its top-down view of Hurricane Ian losses on RMS’s $67bn estimate, JP Morgan has suggested that Munich Re and Swiss Re are likely to have the largest market share of Ian losses. JP Morgan observes that RMS gave a range of $53-74bn, with an additional $10bn in losses for the ... Read the full article
Swiss Re set for $399m Q3 loss in JP Morgan forecast
10th October 2022
Analysts at JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian, as well as loss creep on other catastrophe events and investment market volatility. Based on a market-wide loss forecast of ... Read the full article
Swiss Re warns of $270tn net zero investment deficit
7th October 2022
Analysts at reinsurer Swiss Re have warned that over $270 trillion in climate investments will be required across the energy, transport, buildings and industry sectors globally to meet the Paris Agreement and 2050 net-zero targets. A new Swiss Re Institute study asserts that climate investments must be made “sooner and on ... Read the full article
Yong Suk Kwon promoted to Head of Swiss Re’s Korea branch
7th October 2022
Swiss Re has promoted Yong Suk Kwon to become the Head of the company’s Korea branch, effective December 1st, 2022, subject to regulatory approvals. Current Head of Swiss Re’s Korea branch, Jonas von Oldenskiöld is set to leave the company after sixteen years with the organisation to purse new career opportunities. When ... Read the full article
Top 20 U.S. cyber insurers all saw premium growth in 2021
6th October 2022
Of the approximately $4.8 billion of U.S. cyber insurance premiums underwritten in 2021 by the property & casualty (P&C) industry, more than 81% came from the top 20 cyber insurers in the U.S. marketplace, led by global insurer Chubb. Based on research data from rating agency AM Best, ... Read the full article
Swiss Re and Indonesia Re partner up on data services
3rd October 2022
Swiss Re and Indonesia Re are to partner up to provide members with access to the analytics solutions and risk consulting services of the national Insurance Data Centre Management Agency (BPPDAN). The BPPDAN, which is administered by Indonesia Re, counts 70 re/insurers amongst its members. This collaboration between it and Swiss ... Read the full article
Swiss Re swaps Granular investment for stake in Google’s Verily
29th September 2022
Swiss Re has expanded its partnership with Verily by exchanging an investment in Granular Insurance Company for an equity stake in Verily. Following this transaction, Granular will be wholly-owned by Verily, which is the life sciences and healthcare subsidiary of Alphabet, the parent company of Google. Swiss Re previously made the investment ... Read the full article
Swiss Re collaborates with Waymo to study autonomous vehicles
28th September 2022
The safe deployment of autonomous vehicle (AV) technology could revolutionise the mobility space, though the insurance industry might not be equipped with the right knowledge and data to assess this novel risk, says Swiss Re. In a new report, Swiss Re has stated that AVs will likely result in a significant ... Read the full article
Swiss Re partners with Schadenorganisation Erdbeben on quake resilience
27th September 2022
Swiss Re is going into partnership with the organisation Schadenorganisation Erdbeben (SOE). The partnership will see the reinsurance giant work with SOE to develop needed IT infrastructure around earthquake resilience. The SOE is a public-private partnership of Switzerland's cantonal authorities, cantonal building insurers, and private insurers founded a year ago to ... Read the full article
Underwriting discipline key when financial conditions tighten: Swiss Re
23rd September 2022
A new note from global reinsurer Swiss Re says that tighter financial conditions will reinforce underwriting discipline. The firm’s latest Economic Insights says that current conditions mean central banks are inhibited from pivoting towards more accommodative policies. The work refers to what it calls the ‘central bank put’, or the implicit insurance ... Read the full article
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