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.
Claims development dynamics a “major concern” for P&C insurance: Swiss Re
22nd November 2023
Despite the fact that there has been solid progress on economic disinflation, claims development dynamics are still said to be a "major concern" for the property & casualty (P&C) insurance sector. In a recent Swiss Re sigma report, analysts highlight how claims have risen significantly across lines of business in virtually ... Read the full article
Fitch turns positive on Swiss Re following strongly improved financial performance
22nd November 2023
Global ratings agency Fitch has revised reinsurance giant Swiss Re's outlook to positive from stable, reflecting the firm's "strongly improved financial performance and better capitalisation and leverage." Alongside the revision to positive, Fitch has affirmed Swiss Re's Insurer Financial Strength (IFS) Rating at 'A+' (Strong) and Long-Term Issuer Default Rating (IDR) ... Read the full article
Swiss Re predicts over $100 billion in nat cat losses for 2023
21st November 2023
In its latest sigma report, Swiss Re has forecasted that natural catastrophe insured losses are set to surpass USD 100 billion in 2023, marking the fourth consecutive year and the sixth year since 2017 (inflation-adjusted) that the industry has faced such substantial losses. The report suggests that the continuous growth in ... Read the full article
Non-life insurance profitability to improve on stronger investment & underwriting returns: Swiss Re
21st November 2023
Property and casualty (P&C) insurance premium growth is expected to soften next year and in 2025, but the sector's profitability is poised to improve on stronger investment results and a better underwriting performance, according to Swiss Re's latest sigma report. Total insurance premium growth is forecast at 2.2% annually on average ... Read the full article
Trust in digitalisation key for re/insurers to make the most of latest tech: Swiss Re
20th November 2023
During a recent interview with Reinsurance News, Moses Ojeisekhoba, CEO, Global Clients & Solutions, Swiss Re, suggested that building trust in digitalisation is key for re/insurers to make the most of the latest technology, which will in turn assist in closing the protection gap. “Even the most promising technologies need the ... Read the full article
Electronic Health Records accelerate underwriting process by more than 7 times: Swiss Re
17th November 2023
Studies conducted by Swiss Re and prominent life insurance carriers have unveiled the revolutionary potential of Electronic Health Records (EHRs) in reshaping the conventional landscape of life and health underwriting processes. The studies indicate that EHRs can expedite underwriting decisions by more than seven times, significantly enhancing efficiency and accuracy. The research ... Read the full article
Howden Tiger and Swiss Re conclude strategic Loss Portfolio Transfer for KBIC
14th November 2023
Howden Tiger, the reinsurance broking arm of the global insurance group Howden, in collaboration with Swiss Re Group, a leading global reinsurer, has successfully completed a strategic Loss Portfolio Transfer (LPT) for Kookmin Best Insurance Company, LTD (US Branch) (KBIC). Howden Tiger served as the advisor on this transaction. In this ... Read the full article
Swiss Re partners with Guidewire to reduce operational friction across the industry
13th November 2023
Swiss Re has partnered with Guidewire, a software company that offers an industry platform for property & casualty (P&C) insurers, to help reduce operational friction between risks, insureds, insurers, reinsurers, and intermediaries. The partnership will provide Guidewire and Swiss Re customers with a suite of analytics products, integrations, and data transfer ... Read the full article
Swiss Re’s Daisy Ning addresses widening health insurance protection gap in APAC
10th November 2023
In a recent interview with Reinsurance News, Daisy Ning, Head of Life and Health, APAC (excluding China) at Swiss Re, shared her insights on the growing health insurance protection gap in the region. Ning began by emphasising Swiss Re's pioneering role in addressing the protection gap, stating, "Actually, we are the ... Read the full article
Continued momentum in property, but casualty a cloud of uncertainty: Swiss Re’s Ningen
6th November 2023
As the property and casualty (P&C) insurance industry meets at the 2023 annual APCIA conference, we spoke with Monica Ningen, CEO of P&C Reinsurance US at Swiss Re, about the state of the market and what to expect heading into 2024. “From a property standpoint, we have a pretty orderly market,” ... Read the full article
Swiss Re expects “very strong demand” for reinsurance in 2024
3rd November 2023
"There's a lot of discussions to be had between now and Jan 1, and then during the course of 2024, to figure out what reasonable price levels and attachment points might be for the industry," says John Dacey, Group Chief Financial Officer at Swiss Re. In response to a question on ... Read the full article
Q3 casualty reserve strengthening a move to consolidate overall level: Swiss Re
3rd November 2023
Reserve strengthening in the P&C Re casualty segment in Q3 was based on "more pessimistic assumptions of the ultimate loss cost", as Swiss Re took the opportunity to strengthen the overall level of reserves, suggests John Dacey, Group Chief Financial Officer. Dacey's comments stem from Swiss Re's Q3 earnings call, in ... Read the full article
Swiss Re reports improved underwriting performance as 9M net income hits $2.5bn
3rd November 2023
A strong underwriting performance in both P&C and L&H reinsurance contributed to significantly improved net income for the first nine months of 2023 for Swiss Re, as the return on equity (ROE) rose to 25.9% for the period. Group-wide, net income rose to $2.5 billion for 9M 2023 compared with a ... Read the full article
Asia faces mounting nat cat losses and resilience challenges: Swiss Re’s Victor Kuk
27th October 2023
In an interview with Reinsurance News, Victor Kuk, Head of Property & Casualty Reinsurance SID at Swiss Re, highlighted the escalating crisis of natural catastrophes in Asia. Kuk pointed out that over 30% of the global nat cat events in 2022 occurred in Asia, causing staggering economic losses. He emphasised that ... Read the full article
Appian & Swiss Re partner to launch new workbench for life insurance
26th October 2023
Appian, a software company that automates business processes, has announced the launch of the Connected Underwriting Life Workbench. The new workbench enables holistic underwriting automation and workload management to improve operational efficiency and underwriter experience as they would now have access to a single interface to evaluate and classify risk, handle ... Read the full article