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 highlights rising global protectionism

26th September 2018

As global protectionism continues to rise there's potential for a longer-term decline in trade, which in turn will negatively impact marine and trade credit insurance premium growth, according to reinsurance giant Swiss Re's inaugural edition of its Economic Insights series. The report, titled Protectionism on the rise, and here to stay, ... Read the full article

Swiss Re Corporate Solutions hires Berger from Allianz for CEO as Galvagni steps down

24th September 2018

A new CEO has been hired for reinsurance firm Swiss Re's Corporate Solutions division, as current Chief Executive Agostino Galvagni has decided to step down from the position at the end of 2018. Galvagni is set to leave Swiss Re and the company is replacing him with Andreas Berger, who it ... Read the full article

Re/insurers overestimate the value of AI, says Swiss Re CEO Mumenthaler

18th September 2018

Reinsurers have overestimated the value of artificial intelligence (AI), which has shown very limited successes in the vast majority of the value chain and which will not be applicable in the foreseeable future, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. Speaking in a German language interview with ... Read the full article

Swiss Re & BMW partnership addresses new tech’s role in insurance premiums

14th September 2018

A new partnership between reinsurance giant Swiss Re and German multinational BMW Group that aims to account for driver-assistance systems when calculating car insurance premiums has just been announced by the two companies. With this partnership BMW will hope to leverage the rising sophistication of it’s vehicles’ safety-relevant driver-assistance systems in order ... Read the full article

U.S run-off carrier ProTucket launches first cell, funded by Swiss Re

11th September 2018

Pro U.S Holdings has made a capital contribution of $35 million to its subsidiary ProTucket Insurance Company, a U.S insurance carrier that provides run-off transfer solutions in the U.S, with funding obtained from Swiss Re. The capital injection was provided to allow ProTucket to meet the minimum capital requirements for it ... Read the full article

Swiss Re sees long-term opportunities in changing market dynamics

10th September 2018

Swiss Re views improvements in the overall market environment as a chance for the re/insurance industry to embrace new market dynamics, with companies that proactively develop relevant solutions most likely to benefit from long-term opportunities. Although the current environment continues to be influenced by an abundance of capital, Swiss Re noted ... Read the full article

Swiss Re anticipating “broadly stable” renewal rates, says CEO Mumenthaler

10th September 2018

Swiss Re is expecting reinsurance renewal rates to remain “broadly stable” given the current level of competition in the market environment, according to Christian Mumenthaler, Swiss Re’s Chief Executive Officer (CEO). Speaking in an interview with Reinsurance News, Mumenthaler said: “After many years of price erosion in major non-life insurance markets, ... Read the full article

Economic momentum will not offset low insurance profitability: Swiss Re

9th September 2018

Current economic momentum is not enough to compensate for the phase of low profitability currently being experienced across most global non-life insurance markets, according to the latest sigma report from Swiss Re. The report found that insurers in major western markets and Japan need to improve underwriting margins by around 5 ... Read the full article

Swiss Re welcomes FCSP call for protection & disability income gap to be closed

7th September 2018

Swiss Re has welcomed a paper from the Financial Services Consumer Panel which states the life assurances protection gap and disability income protection gap have both grown since the reinsurance giant first calculated them 15 years ago. The panel has called on the insurance industry, regulators and other stakeholders to tackle ... Read the full article

Swiss Re’s Frank O’Neill to step down as CEO for UK & Ireland

31st August 2018

Swiss Re has announced that Frank O’Neill, current Chief Executive Officer (CEO) for UK & Ireland, has decided to step down from his position, effective 4 September 2018, in order to pursue an opportunity outside of Swiss Re. The company said that a search to find a successor to O’Neill is ... Read the full article

Russell Higginbotham appointed Swiss Re CEO Reinsurance EMEA

22nd August 2018

Global reinsurer Swiss Re has announced a senior executive change, as Russell Higginbotham is appointed to Swiss Re CEO Reinsurance EMEA and Regional President EMEA and also takes a position in the Group Executive Committee. The reason for the appointment is to replace the departing Jean-Jacques Henchoz, who is moving ... Read the full article

Genoa bridge collapse to cost insurers up to $685 million: J.P. Morgan

20th August 2018

Analysts at J.P. Morgan have estimated that the Genoa bridge collapse will result in an insurance industry loss of up to €600 million (US$685 million), driven primarily by property damage and business interruption (BI) losses. Amid extremely heavy rainfall, a 200m section of the Morandi bridge, which is the main road ... Read the full article

Society must prepare for more frequent and severe extreme weather events: Swiss Re

17th August 2018

Martin Bertogg, Head of Catastrophe Perils at reinsurance giant Swiss Re, has called on society to adapt and prepare for increasingly frequent and severe occurrences of extreme weather conditions, such as the heatwaves and dry spells witnessed in recent times. The Swiss Re Institute, a division of Switzerland-based reinsurer Swiss Re, ... Read the full article

Swiss Re hires ex-BAML analyst Olivia Brindle to P&C Analytics Solutions team

16th August 2018

Global reinsurance firm Swiss Re has hired a recognised industry equity analyst from Bank of America Merrill Lynch, appointing Olivia Brindle to the firms P&C Analytics Solutions team. Brindle joined Swiss Re this month and will be based in Zurich, taking on the role of Senior P&C Analytics Solutions Manager within ... Read the full article

Nat cats drive losses in 2018 but totals down significantly: Swiss Re

16th August 2018

Global economic losses from catastrophes in the first-half of 2018 declined to $36 billion, year-on-year, with $20 billion, or 56% being covered by re/insurance, according to reinsurance giant Swiss Re's preliminary sigma estimates. The $36 billion economic loss total represents a decline of 44% from the $64 billion recorded by Swiss ... Read the full article