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.
Crop resilience shows significant progress, but more efforts required: Swiss Re Institute
22nd June 2023
Swiss Re Institute's recent Sigma Report recognises substantial global progress in crop resilience but emphasises the urgent need for additional efforts to address the significant $113 billion crop protection gap. Crops, which account for 65% of global agricultural output, serve as a crucial indicator of the overall resilience of the agriculture ... Read the full article
Global protection gap hits new high of $1.8 trillion in 2022: Swiss Re
21st June 2023
Closing the global protection gap for natural catastrophes, crop, mortality and health insurance would require $1.8 trillion in insurance premium annually, according to a recent Swiss Re report. The re/insurer stated that the protection gap has risen by a cumulative 20% in the past five years, reflecting increased demand from economic ... Read the full article
Hard market cycle is persistent, momentum continues at mid-year renewals: Swiss Re CFO
20th June 2023
One of the key takeaways from Swiss Re's Fireside Chat with Goldman Sachs was that management highlighted its views on the hard market momentum and the impact of interest rate increases. John Dacey, Chief Financial Officer of Swiss Re said that the hard reinsurance market cycle is persistent, and the company ... Read the full article
Wildfire risk “clearly insurable”, will remain part of nat cat portfolio: Swiss Re
16th June 2023
Despite being a peril that is difficult to assess, Swiss Re's Gianfranco Lot suggests that wildfire risk is "clearly insurable" as he anticipates it will still form part of the firm's nat cat portfolio going forward. “Wildfire is part of what we call secondary perils, and we've invested into understanding the ... Read the full article
Consistently high ROEs needed to attract fresh reinsurance capital: Lot, Swiss Re
16th June 2023
A positive track record of a high return on equity (ROE) is needed to attract fresh capital to the reinsurance industry, despite the substantially higher pricing seen throughout the year, according to Gianfranco Lot, Chief Underwriting Officer (CUO) of P&C Re at global reinsurance giant Swiss Re. Pricing in the reinsurance ... Read the full article
“We will find a way to provide significant capacity” to cyber, says Swiss Re’s Lot
15th June 2023
Despite its challenges and its ever changing nature, Swiss Re’s CUO P&C Re, Gianfranco Lot, is convinced that the industry will be able to provide significant capacity to cyber risks. Cyber insurance is a growing line, and just like natural catastrophes, it requires a lot of modelling, Swiss Re stated during ... Read the full article
Caution urged for quieter 2023 Atlantic Hurricane Season: Swiss Re CorSo
7th June 2023
Experts are predicting a quieter Atlantic hurricane season in 2023, but cautionary advice from Katie McGrath from Swiss Re Corporate Solutions emphasises the critical need for preparedness and financial protection, as one devastating storm can have catastrophic consequences for communities. McGrath, Regional CEO North America of Swiss Re Corporate Solutions, highlights ... Read the full article
Swiss Re partners with CompScience on AI powered worker safety
7th June 2023
Reinsurance giant Swiss Re has partnered with CompScience to "rethink how underwriters and industrial firms manage risk using AI-driven predictive models." According to CompScience, "The opportunity is to process millions of hazards in real-time", a process that is made possible with advanced image processing and AI. The firm suggests its Intelligent Safety ... Read the full article
Swiss Re’s Oehy to succeed Hitz as PERILS CEO
31st May 2023
Zurich-based catastrophe insurance data provider, PERILS has announced the appointment of Christoph Oehy as Chief Executive Officer (CEO), succeeding current CEO Luzi Hitz who is stepping down from the role. Oehy’s appointment will be effective 1 November 2023. As CEO he will be responsible for leading the PERILS teams across Europe, ... Read the full article
Swiss Re launches new Centre of Competence for Renewable Energy
31st May 2023
Global reinsurer Swiss Re has today launched a new Centre of Competence for Renewable Energy, bringing together the giant reinsurance balance-sheet of the firm with focused expertise to deliver products to help clients manage their renewable energy portfolios. Swiss Re's new Centre of Competence for Renewable Energy will be run by ... Read the full article
Manual underwriting deserves an upgrade: Swiss Re’s Nanditha Nandy
30th May 2023
Many life insurers have invested in underwriting automation to improve their services and grow their business, but manual underwriting is still essential, especially when reviewing referred cases; yet, the administrative burden that comes with it makes it challenging, says Swiss Re’s Nanditha Nandy. Nandy, who is Head Data Driven UW Solutions ... Read the full article
QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
Swiss Re joins other major re/insurers in leaving Net-Zero Insurance Alliance
22nd May 2023
Global reinsurance giant Swiss Re is the latest company to announce it will leave the Net-Zero Insurance Alliance (NZIA), becoming the fourth major re/insurer to do so. Swiss Re was a founder member when the Net-Zero Insurance Alliance (NZIA) was launched at the G20 Climate Summit in Venice in 2021. At ... Read the full article
Reinsurance market faces challenges amid surge in cat losses, capital unwinding: Swiss Re
19th May 2023
In a challenging market environment, the reinsurance industry is grappling with significant hurdles as catastrophe losses surge and the reliance on external capital becomes increasingly vulnerable, according to Swiss Re's report titled "The State of the Reinsurance Property Catastrophe market." Over the past two decades, low interest rates have fueled a ... Read the full article