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.

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

Chubb partners with Swiss Re on Travel Delay insurance solution

10th August 2018

Property & Casualty (P&C) insurer Chubb has partnered with Swiss Re to launch Flight Delay - an insurance solution for air travellers in Australia that enables payouts on delays as short as 30 minutes. The product is available via Chubb’s Connect app and is powered by Australia-based payments platform provider United ... Read the full article

Swiss Re’s potential ReAssure IPO is credit positive: Moody’s

9th August 2018

Moody’s has claimed that an initial public offering (IPO) of ReAssure, Swiss Re’s UK closed book business, would be credit positive for the reinsurance giant as it would reduce its exposure to credit and market risk and free up risk capital for deployment elsewhere. Swiss Re’s Chief Executive Officer (CEO), Christian ... Read the full article

Swiss Re sees climate change link for hurricanes, drought & wildfire

6th August 2018

In an interview with CNBC, the Chief Financial Officer (CFO) of global reinsurance giant Swiss Re, John Dacey, explained that the firm believes the series of catastrophe events that occurred in the second-half of 2017 are not a one-in-100 year event, but more a one-in-10 year event. After 12 years without ... Read the full article

Swiss Re & SAP’s accounting system completes first development stage

6th August 2018

Swiss Re has completed the first phase of its accounting solution project with Germany-based multinational software corporation, SAP SE. First announced in February 2017, the system supports multi-GAAP accounting processes for financial instruments and insurance contracts and is able to generate multi-valuations, including International Financial Reporting Standards 17. “We have combined forces ... Read the full article

Swiss Re “not the ideal owner” of ReAssure says CEO, as IPO planned

3rd August 2018

Christian Mumenthaler, the Chief Executive Officer (CEO) of reinsurance giant Swiss Re, has said that the firm is "not the ideal owner" of its UK closed book business, ReAssure, following an announcement that the reinsurer is to explore a potential Initial Public Offering (IPO) of the business in 2019. Speaking during ... Read the full article

Stronger underwriting performance drives improved P&C results for Swiss Re

3rd August 2018

Global reinsurance giant Swiss Re has reported its first-half 2018 financial results, announcing higher net income within its Property & Casualty Reinsurance (P&C Re) segment alongside solid premium growth. Swiss Re has reported Group net income of $1 billion for the first-half of the year, down from the $1.2 billion reported ... Read the full article

Swiss Re partnership targets property protection gap in Florida

30th July 2018

Swiss Re has partnered with Florida-based homeowners insurer Security First to provide policyholders with increased protection from water damage, including flood coverage. Ratings are to be based on Swiss Re’s proprietary flood model and priced according to the individual risk exposure. This allows for a more sophisticated delineation of premiums based on ... Read the full article

Space debris poses new challenge to insurers, says Swiss Re

17th July 2018

The insurance industry faces new challenges as the number of low Earth orbiting (LEO) satellite constellations are launched into areas littered with space debris, a study by Swiss Re has found. Space debris makes up over 90% of the tracked objects orbiting the Earth today and pose a profound risk to ... Read the full article

Swiss Re places Frontline’s debut $350m catastrophe bond

11th July 2018

Swiss Re Capital Markets has successfully structured the issuance of a $350 million insurance-linked security transaction by Frontline Re on behalf of Frontline Insurance, the largest for a Florida insurer since 2014. "Swiss Re is pleased to provide support to Frontline on its debut catastrophe bond issuance,” commented Jean-Louis Monnier, Co-Head of ... Read the full article

Global non-life premiums hit $2.2tn in 2017, China driving emerging markets: Swiss Re

10th July 2018

Swiss Re’s Sigma report has shown global non-life insurance premiums increased by 2.8% to $2.2 trillion in 2017, slightly above the 10-year-average of 2.1% despite being a further slowdown from the past two years. Premium growth in emerging markets slowed to 6.1% in 2017 while growth in advanced markets remained steady ... Read the full article

Fitch suggests large reinsurers can better withstand market challenges

10th July 2018

Fitch Ratings recently affirmed its stable outlook and ‘AA-‘ Insurer Financial Rating (IFR) for European reinsurance giants Swiss Re and SCOR, reasoning that the scale of the companies allows them to better withstand current market challenges. The rating agency recognised that both companies currently had very strong business profiles within the ... Read the full article