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.
China’s motor insurance reforms a win for consumers, insurers: Swiss Re
20th October 2020
While recent motor insurance reforms in China will likely result in increased price volatility and premium growth slowdown in the near term, both consumers and insurers will benefit in the longer term, according to analysis from Swiss Re Institute. China is the second largest car ownership market in the world, with ... Read the full article
COVID losses to converge towards industry estimates in Q3: Berenberg
16th October 2020
While total insured COVID-19 losses still remain substantially below the consensus industry loss estimates, analysts at Berenberg expect the figures to begin to converge over the Q3 reporting season. Insurance losses reported to date stand at around $25 billion, which is far short of the lower end of Berenberg’s estimate ($50-70 ... Read the full article
US social inflation continues to erode reserving buffers: Jefferies
13th October 2020
Analysts at Jefferies have noted that US social inflation has continued in 2020, amidst the uncertainty of COVID-19 and the extremely active Atlantic hurricane season. Social inflation has, say analysts, resulted in persistent eroding of reserving buffers and is also driving casualty insurance prices. Recent data shows that securities class actions and ... Read the full article
Global P&C premiums to rebound by 3.8% in 2021: Swiss Re’s Haegeli
13th October 2020
After a moderate reduction in global non-life insurance premium growth this year, owing to the ongoing pandemic, Swiss Re Institute expects global property and casualty (P&C) premiums to rebound strongly by 3.8% in 2021. Recent analysis by Swiss Re's Group Chief Economist, Jerome Haegeli, explores the potential for non-life insurance market ... Read the full article
Swiss Re & Daimler launch automotive and mobility insurance MGA, Movinx
12th October 2020
Global reinsurance giant Swiss Re has entered into a strategic partnership with Daimler Insurance Services to launch a new company called Movinx, an insurance intermediary and service provider designed to transform and innovate automotive and mobility insurance. Both Swiss Re and Daimler are 50/50 shareholders of the new joint venture, which ... Read the full article
Demotech assigns ‘unsurpassed’ rating to Coefficient
9th October 2020
Financial analysis firm Demotech has awarded Coefficient Insurance Company a Financial Stability Rating of Aʺ, A Double Prime, Unsurpassed. Coefficient provides self-funded employers with a data-based approach to employer stop-loss. The company is a Verily subsidiary and is backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re ... Read the full article
Swiss Re CorSo to leverage insurtech Majesco’s digital platforms
9th October 2020
Swiss Re Corporate Solutions has implemented a series of solutions offered by cloud insurance software provider Majesco. The Swiss Re subsidiary opted to implement the Majesco Digital1st Insurance platform and Majesco Policy for P&C on Majesco CloudInsurer, to support initiatives in the Mexico retail market business. “Swiss Re Corporate Solutions had an ... Read the full article
Swiss Re CorSo partners with Hitachi on digital risk solutions
6th October 2020
Swiss Re Corporate Solutions, the commercial insurance division of reinsurance giant Swiss Re, has announced a new partnership with Hitachi Europe Ltd. to launch an insurance-based offering to help corporations manage digital risks. Hitachi Europe is a subsidiary of the Japanese multinational conglomerate company Hitachi Group, which is well-known for building ... Read the full article
Swiss Re CorSo promotes three within FinPro underwriting team
2nd October 2020
Swiss Re Corporate Solutions, the commercial insurance division of reinsurance giant Swiss Re, has announced three leadership appointments within its Financial & Professional Services (FinPro) underwriting team, effective immediately. The company has announced the promotions of Laura Coppola as Global Head FinPro; Kristyn Smallcombe as Global Head Construction PI & GL; ... Read the full article
Swiss Re partners with university on work loss due to ill-health
28th September 2020
Swiss Re has entered into a two-year Knowledge Transfer Partnership (KTP) with the University of Huddersfield to improve the way the UK insurance industry manages early stage sickness absence. It’s believed that the project could ultimately save the UK economy millions of pounds by reducing work loss due to ill-health. Overseeing the KTP ... Read the full article
Swiss Re unveils plan to reorganise legal entity structure of CorSo unit
25th September 2020
Switzerland-based reinsurance giant, Swiss Re has revealed that it plans to reorganise the legal entity structure of its Corporate Solutions Business Unit. This comes after the reinsurer announced in June that the Life Capital Business Unit will disbanded, following the sale of its ReAssure Group plc subsidiary to Phoenix ... Read the full article
Swiss Re finds major economies at risk from biodiversity decline
24th September 2020
A new report from Swiss Re Institute claims that one fifth of countries worldwide are at risk from ecosystem collapse and biodiversity declines, which threaten some of the major global economies. The reinsurer says that more than half of global GDP, equal to $41.7 trillion, is dependent ... Read the full article
Swiss Re takes pride in pushing the boundaries of insurability: CEO Mumenthaler
23rd September 2020
Christian Mumenthaler, the Chief Executive Officer (CEO) of reinsurance giant Swiss Re, is proud of the company's efforts to make the world more resilient amid a "super frustrating" and expanding global protection gap (disparity between economic and insured losses post-event). Mumenthaler recently spoke with our sister publication ... Read the full article
Swiss Re’s ADAS risk scores to be available for Toyota & Lexus vehicles
21st September 2020
Global reinsurance giant Swiss Re has announced a new partnership with Toyota Insurance Services (TIS) / Toyota Insurance Management Europe to further develop the Swiss Re ADAS risk score. TIS is the latest partner to join the ADAS risk score platform after BMW Group, and as part of the partnership, will ... Read the full article
Swiss Re leveraging machine learning to predict motor frequency developments
18th September 2020
By utilising machine learning and numerical text processing techniques, Swiss Re has been able to generate a "predictive view" of motor frequency developments in several markets. In a recent conversation with Nikita Kuksin, Hhead of modelling within Casualty R&D , Miriam Hook, vice president Global clients and Surbhi Gupta, assistant vice ... Read the full article
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