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.
Interest rate increases to support investment income long-term: Swiss Re Institute
8th October 2018
While insurers need to improve their underwriting results if they are to redress current profitability shortfalls and anticipated near-term shareholder equity decline, rising interest rates are expected to paint a brighter future and support investment income long-term, according to a report by the Swiss Re institute. Swiss Re expects U.S rates ... Read the full article
Are brokers still contributing to the value chain? Aon & Swiss Re heads discuss
28th September 2018
As reinsurance companies increasingly develop capabilities that allow them to interact directly with customers, the position of brokers in the value chain has come into question. Speaking during events at the Reinsurance Rendez-vous event in Monte Carlo, the heads of reinsurance at Aon and Swiss Re offered contrasting opinions on the ... Read the full article
Swiss Re highlights rising global protectionism
26th September 2018
As global protectionism continues to rise there's potential for a longer-term decline in trade, which in turn will negatively impact marine and trade credit insurance premium growth, according to reinsurance giant Swiss Re's inaugural edition of its Economic Insights series. The report, titled Protectionism on the rise, and here to stay, ... Read the full article
Swiss Re Corporate Solutions hires Berger from Allianz for CEO as Galvagni steps down
24th September 2018
A new CEO has been hired for reinsurance firm Swiss Re's Corporate Solutions division, as current Chief Executive Agostino Galvagni has decided to step down from the position at the end of 2018. Galvagni is set to leave Swiss Re and the company is replacing him with Andreas Berger, who it ... Read the full article
Re/insurers overestimate the value of AI, says Swiss Re CEO Mumenthaler
18th September 2018
Reinsurers have overestimated the value of artificial intelligence (AI), which has shown very limited successes in the vast majority of the value chain and which will not be applicable in the foreseeable future, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. Speaking in a German language interview with ... Read the full article
Swiss Re & BMW partnership addresses new tech’s role in insurance premiums
14th September 2018
A new partnership between reinsurance giant Swiss Re and German multinational BMW Group that aims to account for driver-assistance systems when calculating car insurance premiums has just been announced by the two companies. With this partnership BMW will hope to leverage the rising sophistication of it’s vehicles’ safety-relevant driver-assistance systems in order ... Read the full article
U.S run-off carrier ProTucket launches first cell, funded by Swiss Re
11th September 2018
Pro U.S Holdings has made a capital contribution of $35 million to its subsidiary ProTucket Insurance Company, a U.S insurance carrier that provides run-off transfer solutions in the U.S, with funding obtained from Swiss Re. The capital injection was provided to allow ProTucket to meet the minimum capital requirements for it ... Read the full article
Swiss Re sees long-term opportunities in changing market dynamics
10th September 2018
Swiss Re views improvements in the overall market environment as a chance for the re/insurance industry to embrace new market dynamics, with companies that proactively develop relevant solutions most likely to benefit from long-term opportunities. Although the current environment continues to be influenced by an abundance of capital, Swiss Re noted ... Read the full article
Swiss Re anticipating “broadly stable” renewal rates, says CEO Mumenthaler
10th September 2018
Swiss Re is expecting reinsurance renewal rates to remain “broadly stable” given the current level of competition in the market environment, according to Christian Mumenthaler, Swiss Re’s Chief Executive Officer (CEO). Speaking in an interview with Reinsurance News, Mumenthaler said: “After many years of price erosion in major non-life insurance markets, ... Read the full article
Economic momentum will not offset low insurance profitability: Swiss Re
9th September 2018
Current economic momentum is not enough to compensate for the phase of low profitability currently being experienced across most global non-life insurance markets, according to the latest sigma report from Swiss Re. The report found that insurers in major western markets and Japan need to improve underwriting margins by around 5 ... Read the full article
Swiss Re welcomes FCSP call for protection & disability income gap to be closed
7th September 2018
Swiss Re has welcomed a paper from the Financial Services Consumer Panel which states the life assurances protection gap and disability income protection gap have both grown since the reinsurance giant first calculated them 15 years ago. The panel has called on the insurance industry, regulators and other stakeholders to tackle ... Read the full article
Swiss Re’s Frank O’Neill to step down as CEO for UK & Ireland
31st August 2018
Swiss Re has announced that Frank O’Neill, current Chief Executive Officer (CEO) for UK & Ireland, has decided to step down from his position, effective 4 September 2018, in order to pursue an opportunity outside of Swiss Re. The company said that a search to find a successor to O’Neill is ... Read the full article
Russell Higginbotham appointed Swiss Re CEO Reinsurance EMEA
22nd August 2018
Global reinsurer Swiss Re has announced a senior executive change, as Russell Higginbotham is appointed to Swiss Re CEO Reinsurance EMEA and Regional President EMEA and also takes a position in the Group Executive Committee. The reason for the appointment is to replace the departing Jean-Jacques Henchoz, who is moving ... Read the full article
Genoa bridge collapse to cost insurers up to $685 million: J.P. Morgan
20th August 2018
Analysts at J.P. Morgan have estimated that the Genoa bridge collapse will result in an insurance industry loss of up to €600 million (US$685 million), driven primarily by property damage and business interruption (BI) losses. Amid extremely heavy rainfall, a 200m section of the Morandi bridge, which is the main road ... Read the full article
Society must prepare for more frequent and severe extreme weather events: Swiss Re
17th August 2018
Martin Bertogg, Head of Catastrophe Perils at reinsurance giant Swiss Re, has called on society to adapt and prepare for increasingly frequent and severe occurrences of extreme weather conditions, such as the heatwaves and dry spells witnessed in recent times. The Swiss Re Institute, a division of Switzerland-based reinsurer Swiss Re, ... Read the full article