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 pegs Hurricane Ida loss at $750mn
5th October 2021
Global reinsurance giant Swiss Re has announced that it expects an estimated impact of USD 750 million from Hurricane Ida, based on insurance and reinsurance industry losses of between USD 28 billion to USD 30 billion. Hurricane Ida made landfall as a Category 4 storm near Port Fourchon, Louisiana, about 60 ... Read the full article
Swiss Re and Claim Genius partner on AI motor solution
23rd September 2021
Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article
Debt surge in emerging markets may hurt insurance outlook: Swiss Re
20th September 2021
Analysts at Swiss Re have warned that the high levels of sovereign debt across emerging markets could impact the outlook for re/insurers in these regions through lower insurance demand and weaker investment returns. In a new report, Swiss Re Institute notes that emerging markets' sovereign debt is at the highest level ... Read the full article
Climate change is not a risk, it’s a fact: Swiss Re CEO Mumenthaler
16th September 2021
In a recent video interview for the Artemis Live series from our sister site, Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re, stressed that while the re/insurance industry certainly has a role to play, it is not the solution to climate change. The 2021 IPCC Climate Risk ... Read the full article
Swiss Re partners on digital motor product in France
14th September 2021
Swiss Re has announced a new partnership with community-based travel platform BlaBlaCar and motor insurance specialist L’olivier Assurance, the French branch of Admiral Group, to launch a digital motor product in France. The product, called BlaBlaCar Coach, is a smartphone app that offers drivers personalised coaching and tips for safer driving ... Read the full article
“Inflation is the enemy of the re/insurance industry,” says Swiss Re CUO Léger
9th September 2021
As the global insurance and reinsurance industry continues to grapple with the challenges of the current higher inflationary environment, Thierry Léger, Group Chief Underwriting Officer (CUO) at Swiss Re, has described inflation as the "enemy" of the industry. Earlier this morning, reinsurance giant Swiss Re hosted its Rendez-Vous de Septembre (RVS) ... Read the full article
Climate change the industry’s largest growth opportunity, says Swiss Re
9th September 2021
Climate change, while acknowledged as a real and existential threat, has been highlighted by Swiss Re as the re/insurance industry's largest opportunity for growth. The reinsurer has called for an annual investment of $6.9 trillion to meet current 2030 targets and warns of devastating consequences to the global economy should this ... Read the full article
Rates need to and will harden further: Swiss Re CEO Mumenthaler
7th September 2021
Further reinsurance market hardening is expected in the months ahead as the severe flooding in parts of Europe in July and the more recent impacts of Hurricane Ida serve as a stark reminder of the issues at hand, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. Read the full article
Swiss Re CorSo names Jack See as Head of Malaysia & Principal Officer
7th September 2021
Swiss Re Corporate Solutions, a division of the global reinsurer, has announced the appointment of Jack See as Head of Malaysia and Principal Officer of its operations in Malaysia, effective immediately. See, who will relocate from Singapore to Kuala Lumpur, takes over from Juerg Stoll, who is set to retire on ... Read the full article
Swiss Re forecasts rapid property market growth amid shift to higher-risk lines
6th September 2021
As economic development and climate change contribute to a fundamental shift to higher-risk, catastrophe-exposed property lines, global property and casualty (P&C) insurance premiums are forecast to more than double to USD 4.3 trillion by 2040, according to analysis by Swiss Re Institute. Driving the rise of more than 50% from 2020's ... Read the full article
Swiss Re to launch central cyber underwriting team
2nd September 2021
Global reinsurer Swiss Re is set to create a central cyber underwriting team, led by AXA XL's John Coletti, that will assume responsibility for group's product development and underwriting activities in the space. Coletti will join Swiss Re as Head of Global Cyber in early October and previously served as the ... Read the full article
Europe’s major reinsurers grew 11% at mid-year 2021 renewals: Litmus Analysis
2nd September 2021
Europe's four major reinsurers renewed roughly €12 billion of treaty premium at the mid-year 2021 reinsurance renewals, with an average risk-adjusted price increase of 2.1%, according to research from Litmus Analysis. The €12 billon of renewed treaty premium represents growth of 11%, which is an improvement on the 5% growth recorded ... Read the full article
Swiss Re to invest $200mn in Economical Insurance’s new parent Definity: report
1st September 2021
Global reinsurer Swiss Re is set to invest USD 200 million in a new parent company called Definity, which prior to the closing of its initial public offering (IPO) will oversee Economical Insurance following the completion of its demutualization, according to reports. Definity Financial Corporation is a newly-created entity incorporated under ... Read the full article
Swiss Re in carbon removal agreement with Climeworks
25th August 2021
Reinsurer Swiss Re has signed a ten-year purchase agreement with Climeworks, a specialist in carbon dioxide air capture technology, to tackle climate change using direct air capture and storage of carbon dioxide. Worth $10 million over the ten years, Swiss Re hopes the collaboration will help it to achieve its goal ... Read the full article
Data is key to unlocking uninsurable risks: Swiss Re’s Mumenthaler
25th August 2021
Christian Mumenthaler, Chief Executive Officer (CEO) at Swiss Re, has argued that data and digitalisation will be key levers for re/insurers to tackle ‘uninsurable’ risks and reduce the global protection gap. Writing as part of a recent blog post, the Swiss Re executive noted that the pandemic has exacerbated the growing ... Read the full article
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