Today’s risk landscape is more connected and faster moving, and as the environment continues to evolve, what’s important across the re/insurance value chain is charging an adequate rate, according to Urs Baertschi, Chief Executive Officer (CEO) of Property & Casualty (P&C) Reinsurance at Swiss Re.
In a video interview ahead of the 2026 annual meeting of the reinsurance industry in Monte Carlo, Reinsurance News spoke with Baertschi about the current state of the sector as it transitions from the peak hard market to a more competitive environment.
“It’s fundamentally about supply and demand,” said Baertschi. “When you look at the demand side, risks are evolving, exposures are going up. We live in an uncertain world, so there’s demand for protection from our clients.”
As per broker reports, dedicated reinsurance capital hit new heights in 2025 and is projected to end 2026 even higher amid continued growth in both traditional and alternative capital. At the same time, the view of risk is not uniform across the market.
“It’s not just one market; it’s many micro cycles, and those different perspectives on the same environment actually creates that market.
“At the end of the day, what’s important for the entire industry throughout the entire value chain to remember is that in that evolving risk landscape, it’s important to charge an adequate rate,” said Baertschi.
Watch the full video interview to hear more from Swiss Re’s Baertschi on the competitive market landscape, evolving risk landscape, the 2026 renewals, AI and technology, and more.
The full video interview is embedded below.
