Swiss Re News

Veolia, New Orleans Discussing Flood Prevention System

French water and waste group Veolia said it is talks to install a flood prevention system in the city of New Orleans that was devastated by Hurricane Katrina in 2005. Veolia innovation director Laurent Auguste said a study will be …

Swiss Re & Partners Unveil Initiative to Speed Economic Recovery After Cat Event

Swiss Re Corporate Solutions Ltd. and Veolia have joined forces, under the auspices of The Rockefeller Foundation, to launch an infrastructure recovery initiative to speed up economic recovery in the aftermath of catastrophic events for cities across the globe. The …

Swiss Re Appoints O’Neill as CEO of UK & Ireland

Swiss Re announced that Frank O’Neill has been appointed CEO of the company’s UK & Ireland business, effective Feb. 1. O’Neill has been the CEO of Swiss Re’s Middle East and Africa business for the past three years. He replaces …

Florida Lawmakers to Industry: We Want YOU to Join State Flood Insurance Market

“We think the time is right for you all to explore the [Florida] flood insurance market.” That was the message Florida Senator Jeff Brandes gave insurance industry attendees at the first ever Florida Flood Insurance Conference on Dec. 9 in …

Swiss Re 2015 Economic Cat Loss Initial Estimates = $85Bn; $32Bn Insured

Swiss Re‘s latest sigma report preliminarily estimates that total economic losses from natural catastrophes and man-made disasters will reach approximately $85 billion in 2015. Insured losses, however, were just $32 billion. In total, approximately 26,000 people lost their lives in …

Swiss Re Confirms ‘Four Pillar’ Strategic Framework for Continued Growth

Swiss Re, at its annual Investors’ Day Conference, unveiled its strategic framework to “position the company strongly vis-à-vis current and future opportunities and challenges facing the re/insurance industry.” The world’s second largest reinsurer said it would stress “systematic and fast …

Emerging Markets Are Growth Engines for Re/Insurance Industry: Swiss Re Report 

The global economy is expected to strengthen moderately next year, which will support insurance premium growth in most regions, according to Swiss Re’s latest publication titled “Global insurance review 2015 and outlook 2016/17.” Demand for non-life insurance is expected to …

Tianjin Port Explosions to Cost Industry at Least $2 Billion: Insurer Filings

Insurer Talanx AG’s $122 million loss from port explosions at Tianjin, one of China’s worst industrial disasters, takes the net hit incurred by insurers across Europe, the U.S., Bermuda and Asia to almost $2 billion, according to filings by 26 companies. …

Mexico Catastrophe Bond Likely to Pay on Hurricane Patricia’s Losses: S&P

Bonds sold by Mexico to shield it from the cost of repairing hurricane damage are closer to paying out after the biggest storm ever measured in the Americas struck the country last month, Standard & Poor’s said. S&P cut its …

Swiss Re’s 1st 9 Months 2015 Consolidated Net Income up 12% at $3.659 Billion

Swiss Re reported consolidated net income of $3.659 billion, a 12 percent increase, for the first nine months of 2015, compared to $3.255 billion for the first 9 months of 2014. $1.399 billion was earned in the third quarter. Swiss …