Swiss Re News

Insured Cat Losses in 2016 Rose 42% at Highest Level Since 2012: Swiss Re

Insured losses from disasters rose 42 percent to $54 billion last year, according to Swiss Re. That’s the highest since 2012 and the equivalent of 0.07 percent of global gross domestic product. Floods in Europe, the U.S. and China, earthquakes …

Swiss Re Names Mitchell as Head of Property & Specialty Reinsurance

Swiss Re announced that Mike Mitchell, currently head Property Underwriting and Property & Casualty Facultative, Asia, will succeed Edouard Schmid as Swiss Re’s head Property & Specialty Reinsurance, effective July 1, 2017. He will also serve as a member of …

Reinsurers Seek Higher Returns Through Customized Business

Reinsurer Swiss Re, usually involved in mega-deals on natural disaster coverage, is branching out on its own to do individually tailored schemes to boost returns, such as one in China to protect farmers against floods or drought. This tailor-made approach …

Level of Cyber Risk Management for Many Firms Is ‘Unsustainable’: Swiss Re

Despite increased awareness of rapidly evolving cyber threats, relatively few corporations have integrated cyber security into their mainstream risk management programs – a situation that is “unsustainable,” according to Swiss Re’s latest “sigma” report. The costs of cyber attacks have …

Blockchain Insurance Industry Initiative B3i Grows to 15 Members

The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …

Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must manage …

Swiss Re to Open a Reinsurance Branch in India

Swiss Re has received the approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch license, Swiss Re will be able to operate in India and offer both non-life …

Emerging Risks/Markets Offer New Opportunities: 2017 Predictions, Part 3

Insurers and reinsurers continue to look for organic growth where they can find it – sometimes from emerging risks and sometimes from emerging markets. As always, the keys to success are market knowledge and patience. Providing a heads-up for such …

Insured Cat Losses in 2016 Totaled $49B, with $158B of Economic Costs: Swiss Re

More than 10,000 people died as a result of natural and man-made disasters during 2016, with financial losses totaling at least $158 billion, Swiss Re said on Thursday. At an estimated $49 billion, insured losses rose by nearly a third …

Swiss Re’s U.S. Solar Power Plant is One Part of Its Climate Change Commitment

Swiss Re’s solar power installation at its U.S. headquarters in Armonk, N.Y., a 2-megawatt facility expected to be up and running by late spring 2017, is just one part of a green theme that the carrier has been writing for …