All Swiss Re articles
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NewsNY’s highest appeals court takes up restaurant owner’s Covid coverage dispute
The New York Court of Appeals has agreed to hear Consolidated Restaurant Operations (CRO)’s Covid-19 coverage appeal against a Swiss Re subsidiary.
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News
Swiss Re: Annual global premiums to exceed $7trn in 2022 for the first time
The insurance industry is set to return to growth in 2023 and 2024 with Swiss Re Institute forecasting average annual premium growth of 2.1 percent as macroeconomic headwinds drive renewed P&C rate momentum.
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News
Swiss Re and Axa Climate lead project to develop Nigeria flood risk cover
A major public-private partnership has been launched at today’s COP27 talks to create a sovereign risk transfer scheme to help protect vulnerable communities against flooding in Nigeria’s Lagos State.
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News
Swiss Re: Cyber risks need standardisation and non-traditional capacity to close 90% protection gap
The rapid evolution of cyber risks requires a threefold approach to cyber insurance focused on contract consistency, standardised data and modelling, and alternative capital from non-traditional risk carriers, according to Swiss Re.
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News
Swiss Re: A “material” hike in cat pricing and retentions at 1.1 but no mention of named perils shift
Swiss Re’s John Dacey has said his company remains committed to providing capacity for property catastrophe business at the upcoming 1 January renewals, but warned that cedents should expect a “material” increase in both pricing and retention levels.
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News
Swiss Re CFO cites inflation as key drag as reserves now boosted by ~$700mn in 2022
The impact of inflation is a key factor in Swiss Re’s struggles to reach its full-year 2022 underwriting targets with the carrier having now boosted reserves this year by circa $700mn, according to group CFO John Dacey.
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News
Swiss Re posts Q3 loss of $442mn as P&C CR climbs to 119.5%
Swiss Re has delivered a net loss of $442mn in the third quarter driven by a pre-announced $1.3bn Hurricane Ian hit.
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Analysis
Diverging retro paths of big four reinsurers likely to continue in the year ahead
As discussions continue around 1.1 renewals, The Insurer recaps the diverging approaches taken by Europe’s big four reinsurers towards retro protection and catastrophe risk in 2022.
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Swiss Re’s Steinmann warns casualty ceding commissions “must come down” as inflation skyrockets
The upwards trend in ceding commissions across the casualty space “needs to come to an end” as reinsurers are increasingly challenged by the pricing environment, Swiss Re’s Thorsten Steinmann has said.
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Analysis
Mixed fortunes for European reinsurance stocks amid 2022 financial turbulence
With just over two months left of trading in the year, shares in Munich Re and Hannover Re have significantly outperformed all major European indices, in stark contrast to Scor’s shares which have almost halved in value.
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Analysis
Big four reinsurers’ oil & gas exit policies signpost broader industry’s withdrawal from fossil fuel underwriting
Munich Re’s recent announcement that it will no longer insure new conventional oil and gas projects as of 1 April 2023 means all of the big four reinsurers have now extended their underwriting restrictions to the whole spectrum of fossil fuels.
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News
Swiss Re: German reinsurance buyers seek additional €2.5bn of 1.1 cat capacity
Swiss Re says most of its European clients are looking to buy more reinsurance next year to counter the impacts of inflation, with German cedants alone expected to be seeking €2.5bn of additional cat capacity.
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News
QBE hires Swiss Re’s Coppola to replace Beckman as NA CUO
QBE North America has hired the global head of FinPro at Swiss Re’s Corporate Solutions division Laura Coppola to be its new chief underwriting officer for insurance in the region, replacing the recently departed John Beckman, The Insurer can reveal.
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News
Swiss Re’s Reichelt: Cedants seeking “significant” additional cat capacity at 1.1
European cedants are expected to seek “significantly more” catastrophe capacity at the 1 January reinsurance renewals, but a reduction in cat appetite and inflationary pressures will push rates higher, according to Swiss Re’s Frank Reichelt.
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Swiss Re estimates $1.3bn Ian loss as it warns on 2022 profits
Swiss Re has said it will no longer meet its 2022 profit expectations after estimating a $1.3bn net Hurricane Ian loss in the third quarter.
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News
Swiss Re’s Pande urges cat attachment increases to counter rising valuations
Reinsurers are sure to impose further property catastrophe rate increases following Hurricane Ian, but Swiss Re America’s Mohit Pande has argued that structural changes to programs are also required with attachment points in need of potentially doubling to keep pace with inflationary impacts.
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News
Swiss Re CorSo eyes European casualty expansion: EMEA CEO Kleiterp
Swiss Re Corporate Solutions (CorSo) is looking to increase its share of the European liability market as it turns to growth following the heavy remediation work undertaken in recent years, EMEA CEO Fred Kleiterp has told The Insurer.
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KBW: Swiss Re facing Q3 loss of ~$750mn and possible reserve strengthening
Swiss Re will post a circa $715mn loss for Q3 on the back of “far from normal” natural catastrophe activity, KBW’s Darius Satkauskas has forecast, while the analyst also warned US casualty loss cost trends may soon force the reinsurance giant to strengthen its reserves.
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News
Swiss Re’s Schnarwiler: Government awareness of insurance value proposition increasing
Public sector engagement around the use of insurance as a tool to enhance societal resilience has accelerated in recent years, according to Swiss Re’s head of sustainability Reto Schnarwiler.
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News
Swiss Re takes equity stake in Alphabet’s Verily
Healthcare-focused Verily and Swiss Re have closed a transaction whereby the reinsurance giant exchanged its investment in employer stop-loss insurer Granular Insurance Company for an equity stake in Verily.
