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.

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

Secondary perils behind $89bn cat loss in 2020: Swiss Re

30th March 2021

The latest sigma report from Swiss Re has estimated that global insured catastrophe losses totalled $89 billion in 2020 from 274 events, marking the fifth most costly year since its records began. Insured losses from natural catastrophes were $81 billion, the reinsurer said, with man-made disasters were the cause of the ... Read the full article

Major re/insurance players commit $2mn to Oasis Loss Modelling Framework

23rd March 2021

A number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis Re and the Insurance Development Forum. The supporting international re/insurers and brokers ... Read the full article

Swiss Re’s JV Movinx hires Carolin Gabo as CEO

22nd March 2021

Insurance intermediary and service provider Movinx has appointed Carolin Gabor as its new Chief Executive Officer. Gabor will be leading the company along with Sebastiaan Bongers in the role of Chief Product Officer and Andreas Roth as Chief Financial Officer. She will be responsible for the acceleration of Movinx’ expansion plans by ... Read the full article

Pandemic “reached the limits of insurability”: Swiss Re’s Kielholz

22nd March 2021

Swiss Re Chairman Walter Kielholz has said that the industry withdrawal from covering pandemic risk was “unavoidable” because this peril “once again reached the limits of insurability.” Writing as part of the reinsurer’s annual report for 2020, Kielholz noted that Swiss Re has been prepared for a severe pandemic scenario for ... Read the full article

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