Swiss Re

ILS paid out record amount to sponsors amid Covid volatility

The catastrophe bond market handed sponsors $668mn in loss payments last year in what was the largest percentage of outstanding cat bond notional paid out over the course of a calendar year, according to Swiss Re Capital Markets (SRCM).

Cat bond pricing now at seven year high

Cat bond pricing is now at a seven year high and is predicted to increase further in 2021 in parallel with the firming, traditional reinsurance market.

Swiss Re partners with ICEYE to strengthen flood modelling capabilities

Swiss Re has partnered with commercial synthetic-aperture radar (SAR) satellite operator and flood monitoring provider ICEYE to bolster its flood monitoring capabilities and strengthen the support it provides its clients.

Europe’s big four reinsurers grow 1.1 premiums close to €30bn in 2021

Total P&C reinsurance premiums written by Europe’s “big four” reinsurers at the 1 January renewal grew to more than €29.9bn in 2021, according to analysis by The Insurer.

Swiss Re “surprised” by bullish casualty market as cuts exposures 55% at 1.1

Swiss Re was “surprised” by the muted price rises it witnessed at 1 January across its casualty portfolio, however the “nominal” uptick facilitated the de-risking of its book, group CEO Christian Mumenthaler has said.

Swiss Re falls to $878mn FY loss in consensus miss

Swiss Re has reported a net loss of $878mn for 2020 – compared with a profit of $727mn in 2019 – as the group recorded a $3.85bn full-year Covid-19 hit.

Swiss Re hires Dougall to lead CorSo casualty teams

Swiss Re Corporate Solutions (CorSo) has appointed Andrew Dougall as global head of casualty.

Deutsche Rück hires Swiss Re’s Kummer to launch LatAm unit

German reinsurer Deutsche Rückversicherung is to start writing business in Latin America and has hired Swiss Re’s Florian Kummer to lead the operation.

Swiss Re teams with Diameter on digital underwriting

Swiss Re has partnered with health data specialist Diameter Health on a solution designed to leverage clinical health data for insurance underwriting.

Swiss Re CorSo names Slack as head of wholesale

Swiss Re Corporate Solutions has appointed Melanie Slack as head of wholesale for UK, Ireland, South Africa and Europe, Middle East and Africa.

Olympic cancellation threat brings risk of contingency losses reaching $3bn

Speculation that the postponed Tokyo Olympics could now be cancelled has raised the prospect of worst-case losses for insurers of up to $3bn, although if the event goes ahead behind closed doors that would substantially reduce the bill for the contingency sector, The Insurer understands.

Berenberg: Swiss Re likely facing $400mn in additional non-life Q4 Covid-19 claims

Swiss Re will likely incur additional Covid-19 losses of around $400mn in its P&C and Corporate Solutions businesses during the fourth quarter of 2020, according to Berenberg analysts.

Swiss Re UK & Ireland CEO Madzinga exits

Swiss Re’s UK and Ireland chief executive Tava Madzinga is to leave the carrier at the end of the month.

Why hurricane risk modelling has to change

Following another active season, Martin Bertogg, head of cat perils and cyber at Swiss Re Institute, questions whether the way the industry models hurricane risk needs to evolve.

Duperreault, Glaser and Schnitzer among CEOs urging Congress to accept Biden win

AIG’s Brian Duperreault, Marsh & McLennan Companies’ Dan Glaser, Swiss Re Americas’ Philip Ryan and Travelers’ Alan Schnitzer are among over 170 New York business leaders signing a letter urging Congress to accept Joe Biden’s win in the US presidential election.

Swiss Re assumes $69mn of workers’ comp liabilities in US legacy deal

Swiss Re has assumed all workers’ compensation policies issued by Highlands Insurance Company, which was placed into receivership in 2003, in a transaction the reinsurer believes could serve as a model for future legacy deals, The Insurer can reveal.

Swiss Re CorSo launches South Africa unit

Swiss Re Corporate Solutions (CorSo) is to launch a new unit in South Africa after receiving regulatory approval from the South African Prudential Authority and Financial Sector Conduct Authority.

Industry cat bill to total $83bn in 2020: Swiss Re

Total industry losses from natural catastrophes and man-made disasters will likely total $83bn in 2020, according to Swiss Re Institute’s preliminary Sigma estimates, with insured losses accounting for 45 percent of this year’s global economic catastrophe bill.

Swiss Re CorSo promotes Huard-Auray to North America E&C head

Swiss Re Corporate Solutions has appointed Emmanuelle Huard-Auray as head of engineering and construction (E&C) North America.

Brokerslink and Swiss Re launch new insurance IPA platform

Global broking business Brokerslink and Swiss Re Corporate Solutions (CorSo) have launched an international insurance programme management platform for the organisation’s broker network.

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