Swiss Re

Swiss Re shares climb after Q3 earnings beat

Despite the roll-call of attritional Q3 losses and an increase in its Covid-19 reserves, Swiss Re narrowed its nine-month loss with a strong performance in its P&C reinsurance division and the continuing turnaround in its loss-making Corporate Solutions unit.

Swiss Re joins global coalition to tackle pandemic risk

Swiss Re has joined a global coalition of academic, non-profit and private sector organisations that aims to better predict and prevent outbreaks, epidemics and pandemics by leveraging data and analytics.

Industry is underestimating hurricane risk: Swiss Re’s Pande

The (re)insurance industry is not taking full account of the Atlantic Multidecadal Oscillation (AMO) in its underwriting of hurricane risk, despite no sign of a change from the warm phase of the cycle that tends to drive increased activity, according to Swiss Re’s Mohit Pande.

Swiss Re CorSo brings Württembergische Versicherung onto IPA platform

Swiss Re Corporate Solutions (CorSo) has signed German insurer Württembergische Versicherung to its International Programme Administration (IPA) platform.

Swiss Re’s Lot: Sustainable profitability key to long-term partnerships

While the ongoing impact of Covid-19 dominated much of the conversation during virtual Baden-Baden discussions this month, issues around large man-made losses, climate change and the low-yield environment contributed to “complex conversations” around renewals.

CEA triples Swiss Re-placed Ursa Re II cat bond to $775mn

The California Earthquake Authority (CEA) has secured $775mn of reinsurance protection through its upsized Ursa Re II transaction, more than triple the initial target size.

Swiss Re’s da Victoria Lobo: Infectious disease exclusions set to dominate renewal discussions

Discussions around infectious disease exclusions, low interest rates and aggregate losses will dominate conversations ahead of the upcoming 1 January renewal, according to Nikhil da Victoria Lobo, head of Western and Southern Europe at Swiss Re.

Euro reinsurers’ Covid losses to be worse than expected: KBW

The big four European reinsurers face further deterioration in Covid-19 losses in their third-quarter results, according to Keefe, Bruyette & Woods (KBW) analysis, with the quartet also forecast to exceed Q3 catastrophe budgets following an “active quarter” for nat cats.

Swiss Re’s Mumenthaler reiterates need for cyber backstop

The CEO of Swiss Re has suggested that cyber insurance capacity will reduce in a few years’ time unless governments provide a backstop or capital markets become interested in the risk.

Social inflation, elevated cats and low interest rates are main 1.1 drivers: Wolfe

Social inflation, elevated cat activity and low interest rates are the main drivers of rate firming pressures in the reinsurance market, despite the impact of Covid-19, according to Swiss Re’s president of US P&C Keith Wolfe.

Swiss Re’s Lohbeck: Early renewal requests telling of state of the market

Large industry losses, Covid-19 exclusions, prior year deterioration and some capacity withdrawals are all contributing to rate strengthening across most specialty lines as request for renewals come in early, according to Anne Lohbeck, head global specialty, property & specialty underwriting at Swiss Re.

Swiss Re’s Baertschi: Secondary perils creeping up industry losses as climate change worsens

The industry should be wary of the increasing “frequency and severity” in secondary perils as the risks associated with climate change become more prevalent and cost (re)insurers more each year, warns Urs Baertschi, CEO of Reinsurance EMEA at Swiss Re.

Swiss Re and Daimler launch mobility insurance MGA

Swiss Re and German carmaker Daimler have launched Movinx, a Berlin-based managing general agent designed to transform and innovate automotive and mobility insurance.

Alphabet’s new Swiss Re-backed insurer secures “Unsurpassed” Demotech rating

Coefficient Insurance Company, a recently-launched subsidiary of Alphabet’s Verily Life Sciences that will write employer stop-loss insurance, has secured an Aʺ, A Double Prime, Unsurpassed, financial stability rating from Demotech.

Swiss Re CorSo partners with Hitachi on digital risk solutions

Swiss Re Corporate Solutions has partnered with Hitachi Europe Ltd. to launch an insurance-based offering to help corporations manage digital risks.

Swiss Re CorSo names Coppola as FinPro head, promotes Smallcombe and Rodriguez

Swiss Re Corporate Solutions has announced three leadership appointments in its financial and professional services (FinPro) underwriting team, including naming Laura Coppola as global head.

Streaming now on The ReInsurer TV!

It’s been another week of interviews with industry leaders at The ReInsurer as we tap into the important topics and events that are shaping the market in the run up to the 1.1 renewals.

Insurers running to flood, not away from it

The impacts of Covid-19 and a faltering global economy mean the insurance industry is facing unprecedented headwinds. So now more than ever, it’s crucial to tap into new risk pools and seize fresh revenue opportunities when they come along. And when it comes to flooding, there’s more than enough business to go around, says Matt Junge, head of property solutions for US and Canada at Swiss Re.

Positive social inflation trends are only temporary: Swiss Re’s Parton

There is no indication the Covid-19 pandemic has led to any improvement in social inflation trends and only sustained rate increase will make up for years of underpricing the risk, says Nicola Parton, head of P&C business management reinsurance, Swiss Re.

Swiss Re reorganises legal entity structure to boost capital efficiency

Swiss Re has revealed plans to reorganise the legal entity structure of its operating carriers with Swiss Reinsurance Company Ltd set to become the sole direct wholly-owned operating subsidiary of the company.

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