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’s P&C combined ratio strengthens as net income rises to $1.4bn
4th August 2023
Global reinsurance giant Swiss Re has reported a significant rise in net income to $1.4 billion for the first half of 2023, driven by contained natural catastrophe losses, and a solid performance in all business segments during the period. Group-wide, net income rose substantially from the $157 million recorded in H1 ... Read the full article
Recycling industry struggles with insufficient insurance for circular economy growth: Swiss Re
28th July 2023
A recent report by the Swiss Re Institute titled "What goes around comes around: Insuring the circular economy" highlights the challenges faced by the recycling industry in obtaining sufficient insurance cover, which is crucial for the growth of the circular economy. The report points out that limited insurability poses a threat ... Read the full article
The industry has an obligation to drive the development of ethical AI: Swiss Re’s Ladva
28th July 2023
Looking past the transformative potentials that artificial intelligence (AI) possesses for the re/insurance industry, one major factor still remains: peoples need for risk transfer and mitigation solutions. AI technology may be able to enable new solutions and business models, but it simply cannot alter the "core mission" of the industry, according ... Read the full article
Sutton joins Swiss Re as Head of Sales P&C Reinsurance Solutions
24th July 2023
Martyn Sutton has joined global reinsurer Swiss Re as Head of Sales & Origination P&C Reinsurance Solutions (Americas). The news of Sutton’s appointment comes after Swiss Re announced that, from April 3rd, its reinsurance division was to be split into Property & Casualty Reinsurance (P&C Re) and Life & Health Reinsurance ... Read the full article
Swiss Re structures Blackstone’s first indemnity cat bond
20th July 2023
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 250 million of insurance-linked securities issued with respect to certain real estate funds managed or controlled by affiliates of Blackstone Inc. under Wrigley Re Ltd. This Wrigley Re Ltd. (Series 2023-1) transaction is Blackstone's first indemnity cat ... Read the full article
Swiss Re’s iptiQ & Clark UK to offer over 50s life insurance in the UK
19th July 2023
Clark UK, previously known as Candid, has expanded its strategic partnership with Swiss Re's digital B2B2C insurer iptiQ to offer its own 'over 50s' life insurance for the UK market under the Winston brand. This new product launch builds on the distribution partnership announced by the two companies earlier this ... Read the full article
Growing pressure on insurers as inflation raises concerns over reserve adequacy: Swiss Re
18th July 2023
Mounting uncertainties and increasing pressure on insurers due to inflationary forces, are raising concerns over reserve adequacy in the current economic environment, according to the latest sigma report by Swiss Re Institute. Industry analysts have observed that, excluding workers' compensation, reserve development in the US insurance industry has been unfavourably impacted ... Read the full article
Swiss Re board to propose Jacques de Vaucleroy as Chairman at 2024 AGM
12th July 2023
Global reinsurer Swiss Re's Board of Directors has decided that current Vice Chairman, Jacques de Vaucleroy, will continue to lead the Board and be proposed as the firm's new Chairman at the next AGM in April 2024, following Sergio P. Ermotti's resignation as Chairman on April 30th, 2023. Under the ... Read the full article
Emerging Asia poised to lead global economic growth: Swiss Re
10th July 2023
Emerging Asia is set to become the primary driver of global economic growth in the coming years, according to the latest sigma report by Swiss Re Institute. With China's economy reopening and experiencing a recovery in demand, Swiss Re forecasts emerging Asia to achieve a growth rate of 5.4% in 2023 ... Read the full article
Average ROE of reinsurers in Fitch peer group decreased to 1.2% in 2022
6th July 2023
A group of reinsurers in Fitch Ratings' universe saw their average return on equity (ROE) fall from 8.5% in 2021 to 1.2% in 2022 as mark-downs on investments, high inflation and increased losses from natural catastrophes drove a significant dip in profits. The global reinsurance companies in the peer group are ... Read the full article
Swiss Re appoints Ali Shahkarami as Global Head of P&C Solutions
6th July 2023
Global reinsurer Swiss Re has announced the appointment of Ali Shahkarami as Global Head of P&C Solutions. He will be reporting to Russell Higginbotham, CEO of Reinsurance Solutions. Shahkarami’s appointment was effective July 1st, 2023, and he will be based out of Munich. Russell Higginbotham, CEO of Reinsurance Solutions, commented on the ... Read the full article
Swiss Re still expects US P&C sector ROE improvement despite challenging Q1
28th June 2023
Analysis from Swiss Re after the first six months of the year reveals that the global reinsurer still expects the impacts of higher underwriting and investment income to drive an improved return on equity (ROE) for the US property and casualty (P&C) sector in both 2023 and 2024. Swiss Re has ... Read the full article
Non-life insurers in advanced markets face reserve adequacy concerns amidst recent shocks: Swiss Re
27th June 2023
Direct non-life insurers in advanced markets have experienced a deceleration in the release of prior-year loss reserves, prompting concerns about adequacy due to recent shocks, leading to an uptick in the share of incurred-but-not-reported (IBNR) claims, according to a Swiss Re Institute report. The global insurance industry had made favourable progress ... Read the full article
Mortality protection in life insurance crucial for global household resilience: Swiss Re Institute
23rd June 2023
Swiss Re Institute's recent Sigma Report highlights the crucial role of mortality protection, inherent to life insurance, in mitigating the growing vulnerability of households globally in the event of the primary breadwinner's premature demise. According to the report, the mortality protection gap, defined as the disparity between the necessary resources required ... Read the full article
Texas bill looks to stop insurers from utilising ESG criteria
23rd June 2023
A report in The Texas Tribune notes that insurers in the state can no longer account for environmental, social or governance criteria when setting rates for most forms of insurance following the passing a bill by the Legislature in May. Senate Bill 833 has no penalties and allows companies to consider ... Read the full article