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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 sells remaining stake in New China Life: reports

28th May 2021

Reports today from media company Caixin suggest that Swiss Re may have sold its remaining stake in Beijing-based life insurer New China Life Insurance Co. Swiss Re bought 152.9 million shares in New China Life in 2013, but then sold almost half of these a few years ago in a deal ... Read the full article

Swiss Re helps complete £3.7bn longevity swap deal for Fujitsu

13th May 2021

Global reinsurer Swiss Re has helped transfer risks associated with 9,000 members of Fujitsu's ICL Group Pension Plan, after backing a new £3.7 billion longevity swap deal. By leveraging a Guernsey captive insurance cell, not only was the risk transfer’s pricing optimised, its access to reinsurance capital became more efficient. After the ... Read the full article

Pipeline cyber attack not surprising, says Swiss Re’s Mumenthaler

13th May 2021

Swiss Re CEO Christian Mumenthaler has said that he is “not too surprised at all” that cyber criminals were able to successfully target and disrupt the operations of Colonial Pipeline, and warned that key infrastructures remain open to similar hacks. Asked about the eventual cost and fallout of last week’s attack ... Read the full article

PartnerRe adds Swiss Re’s Fiona Mitchell as account exec

11th May 2021

Partner Re has announced the appointment of Fiona Mitchell as an account executive within its Global Clients and Brokers unit. Mitchell is an experienced senior reinsurance professional with 13 years of expertise in areas including client relationship management, negotiation, project management, treaty structuring and placement. She joins from global reinsurer Swiss Re, ... Read the full article

Despite a muted Q1 COVID impact, P&C isn’t in the clear yet: Swiss Re CFO

30th April 2021

For Swiss Re, COVID-19-related losses in its P&C Reinsurance segment were muted for the first-quarter of 2021, but that doesn't mean the business is "all clear for the rest of the year," according to Group Chief Financial Officer (CFO), John Dacey. Early this morning, Swiss Re announced COVID-19 losses of ... Read the full article

Swiss Re’s Q1 net income hits $333m despite over $1bn of COVID & cat losses

30th April 2021

Global reinsurance giant Swiss Re has reported net income of $333 million for the first quarter of 2021 against a loss of $225 million in the prior year period, despite losses related to COVID-19 and large natural catastrophes of more than $1 billion. Alongside growth in net income across the Group, ... Read the full article

COVID-19 creates disruption in infrastructure investment: Swiss Re

22nd April 2021

Global reinsurer Swiss Re has released a report which shows a short-term disruption in infrastructure investment as a result of COVID-19, however the reinsurer noted that the long-term trend has remained the same. It also expects the growth in infrastructure investment to resume this year as the vaccination roll-out enables economies ... Read the full article

Failure to act on climate change could wipe 18% off global GDP by 2050: Swiss Re

22nd April 2021

Failure to take appropriate action against the impacts of climate change poses a significant threat to the global economy, with GDP potentially shrinking by as much as 18% over the next three decades if no preventive measures are taken, according to stress-test analysis by Swiss Re Institute. The global reinsurance giant ... Read the full article

Swiss Re joins auto tech firm Veoneer to further road safety solutions

20th April 2021

Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article

Swiss Re shareholders elect Ermotti as Chair; Kielholz named Honorary Chairman

16th April 2021

Shareholders of reinsurance giant Swiss Re today approved all proposals put forward by the company's Board of Directors at the Annual General Meeting (AGM) held in Zurich; marking the election of Sergio P. Ermotti as successor to Walter B. Kielholz as Chairman of the Board. Swiss Re announced in early ... Read the full article

Bindable partners with Swiss Re’s iptiQ

16th April 2021

Insurance technology firm Bindable has entered into a strategic partnership with Swiss Re’s iptiQ, a digital life and health insurance platform. The new strategic relationship includes a minority investment by iptiQ in Bindable and will help insurance carriers and agents expand their distribution channels across the US. The partnership extend to brands, ... Read the full article

Analysts predict “underwhelming” quarter for Swiss Re

15th April 2021

Analysts at Deutsche Bank are predicting that Swiss Re will deliver “another set of underwhelming numbers” for the first quarter of 2021, following an active period for catastrophe losses, with Barclays estimating a loss of $368 million. Assuming an industry loss of $15 billion for the winter weather that affected Texas, ... Read the full article

Captive insurance thriving in hard market: Swiss Re

14th April 2021

Analysts at Swiss Re Institute have reported that companies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance. According to new research, captive insurer use is expanding to Asia and Latin America, and to mid-sized companies, for which new business models for ... Read the full article

QBE expands US FINPRO, adds Swiss Re’s Salvatore Samà to lead

9th April 2021

QBE Re, the reinsurance arm of Australian insurer QBE, has expanded its US Casualty treaty hub and appointed Salvatore Samà as Senior Vice President, Treaty Underwriting - FINPRO. Based in New York, Samà will take charge of driving the development and advancement of QBE Re’s US Financial and Professional Lines treaty ... Read the full article

Swiss Re backs disaster risk insurance scheme in Nagaland, India

31st March 2021

Swiss Re has been confirmed as the reinsurance partner to a new public-private disaster risk insurance scheme in the Indian state of Nagaland, which aims to increase the region’s climate resilience. The scheme is co-funded by InsuResilience Solutions Fund (ISF), an initiative managed by Frankfurt School of Finance and Management and ... Read the full article

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