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.
Opportunity for Swiss Re to provide additional solutions in commercial & specialty: Higginbotham
11th September 2023
While rising losses from natural catastrophe events remains a significant challenge for the industry, Russell Higginbotham, Chief Executive Officer (CEO) of Swiss Re Reinsurance Solutions, sees interesting opportunities in both commercial and specialty insurance. Higginbotham spoke with Reinsurance News around the annual meeting of the reinsurance industry in Monte Carlo, to ... Read the full article
Insurers’ cost of capital reaches decade-high levels amidst rising interest rates: Swiss Re
11th September 2023
In a recent report by Swiss Re Sigma, the insurance industry's cost of capital (CoC) has surged to its highest point in a decade due to a confluence of factors, primarily driven by the impact of the COVID-19 pandemic and subsequent economic events. One of the key factors contributing to this ... Read the full article
Non-life reinsurance market to see continued growth: Swiss Re
11th September 2023
Global reinsurer Swiss Re has noted that the non-life reinsurance market is expected to grow above GDP for the next decade, driven mainly by inflation and urbanisation. "The 10-year outlook for the market in USD shows nominal growth of approximately 5.4% per year, or around 3% adjusted for inflation," Swiss Re ... Read the full article
Hard market to continue with disequilibrium in demand and supply: Swiss Re Institute
9th September 2023
A disequilibrium in demand and supply of non-life insurance is expected to persist, and with it a continuation of current hard market conditions, especially in property catastrophe lines, according to Swiss Re Institute. Driven by increased natural catastrophe activity as well as inflation, demand for insurance protection has risen since 2017, ... Read the full article
Swiss Re happy with T&C evolution, expects hard market to sustain: CEO Mumenthaler
7th September 2023
Christian Mumenthaler, CEO of reinsurance giant Swiss Re, expects the hard market to sustain and is pleased with how terms and conditions (T&Cs) have evolved throughout 2023, and sees a huge need for reinsurers to become more profitable after a pretty difficult period for the industry. In ... Read the full article
Single Japan earthquake could cause insured losses of up to $150bn: Swiss Re
4th September 2023
Despite significant improvements in the structural resilience of buildings since the Great Kanto earthquake, which took place 100 years ago in Japan, analysis by reinsurance giant Swiss Re warns that a single quake in the country could result in insured losses of between $130 billion and $150 billion. Seismic risk remains ... Read the full article
Swiss Re and Wysa launch first insurance-specific mental health app
29th August 2023
Swiss Re Reinsurance Solutions and Wysa, a provider of anonymous mental health support, have launched Wysa Assure, an Artificial Intelligence-based mental health support app. Australian MLC Life Insurance is the first to bring the solution to the market. Central to Wysa Assure's design is an AI chatbot built on cognitive behavioural ... Read the full article
Swiss Re partners with Income Insurance to launch Singapore’s first cancer insurance product
24th August 2023
Global reinsurance giant Swiss Re has partnered with composite insurer, Income Insurance Limited (Income Insurance), on a first-in-market cancer insurance product that offers a guaranteed post-cancer term option, as well as support throughout the journey from diagnosis to recovery. Complete Cancer Care - the new product - provides continuous care in ... Read the full article
Europe’s big four reinsurers saw improved average P&C combined ratio in H1’23: Fitch
23rd August 2023
Europe's big four reinsurers reported an average property and casualty (P&C) combined ratio of 89.2% in the first half of 2023, a 4.1 percentage point improvement on the prior year as the catastrophe load eased, reports Fitch Ratings. The ratings agency highlights that underwriting margins in P&C improved for three of ... Read the full article
Munich Re ranked largest reinsurer for third year running by AM Best
22nd August 2023
After taking the top spot from Swiss Re in 2020, the latest data from ratings agency AM Best confirms that German reinsurer Munich Re remains the world's largest reinsurance company when ranked by gross life and non-life premiums written in 2022. With reinsurance gross premiums written (GPW) of ... Read the full article
Record ILS issuance in H1 and a record-breaking year expected: Swiss Re
22nd August 2023
The insurance-linked securities (ILS) market delivered another very strong performance in the first half of 2023 with new issuance breaking records in the period, Swiss Re has revealed, who has also predicted a record-breaking full-year in both the size and number of newly issued bonds. According to Swiss Re’s latest ... Read the full article
US long-dated yields rise amidst global factors, unlikely bond crisis: Swiss Re
17th August 2023
In a recent analysis by Swiss Re Institute, experts suggest that the recent surge in longer-dated US government bond yields is not indicative of an impending bond crisis or concerns over US credit worthiness. Instead, the driving forces behind the increase in yields are rooted in global factors, including inflation persistence ... Read the full article
Swiss Re partners with One Concern to reveal nat cat business interruption risk
17th August 2023
Reinsurance giant Swiss Re and One Concern, an AI physical risk company, have announced a strategic partnership that is set to enhance the underwriting and management of nat cat business interruption risk. The partnership between the two companies will see One Concern's Business Interruption Risk Scores and Metrics DNA product become available ... Read the full article
S&P revises Swiss Re outlook to stable from negative on continued performance improvement
16th August 2023
S&P Global Ratings today revised its outlook to stable from negative on Swiss Re and its core subsidiaries, as well as affirmed the ratings on these entities. According to the rating agency, the outlook revision to stable reflects improvements in Swiss Re's underwriting performance since 2021 and its expectation that the ... Read the full article
Reinsurance as a pillar of resilience again becoming more relevant: Swiss Re
7th August 2023
In a letter to Swiss Re's shareholders, Christian Mumenthaler, Group CEO, and Jacques de Vaucleroy, Vice Chairman of the Board of Directors, have suggested that the firm's H2 performance will be heavily influenced by geopolitical risks, inflation, and climate change, demanding that its "cautious optimism be accompanied by vigilance." The pair ... Read the full article