Swiss Re News

Swiss Re Plans $1.1 Billion Share Buyback; Q4 Net Income Hit

Swiss Re AG, swimming in excess capital after several years of lower-than-expected disaster claims, plans to shift to share buybacks to return cash to investors after three years of paying a special dividend. The world’s second-biggest reinsurer announced plans on …

Swiss Re CEO Says Infrastructure Investment, Insurers Good Match

Swiss Re AG Chief Executive Officer Michel Lies called for the creation of a special infrastructure asset class to allow insurers to invest in projects such as roads and bridges. “If you take all the insurance industry, all the money …

Swiss Re Economists Forecast ‘Modest’ Global Growth

Swiss Re’s Chief economist, Kurt Karl and his colleague, Senior Economist Roman Lechner, presented a somewhat cautious scenario for the global economy over the next two years. As detailed in Swiss Re’s “Global insurance review 2014 and outlook 2015/16,” the …

Swiss Re Net Income Rises 14%, Supported by Lower Catastrophe Losses

Swiss Re AG, the world’s second- biggest reinsurer, said third-quarter profit rose 14 percent, beating analysts’ estimates, following lower-than-expected losses from natural catastrophes. Net income rose to $1.23 billion from $1.07 billion in the year-earlier period, beating the $928.6 million average …

Africa Provides Insurers With New Business Opportunities

Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog Investments. “We’re at an immense inflection point in history where millions of people …

Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’

A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective of …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …

Competitive Pressures Mount for Reinsurers

Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialized focus. Medium-sized, “me-too” reinsurers are ripe for consolidation, …

Swiss Re Eyes Specialty Lines to Counter Reinsurance Slump

Swiss Re Ltd., the world’s No. 2 reinsurer, is cutting back on catastrophe coverage and moving into new lines of business as low interest rates and fewer natural disasters undercut prices. “The super profits from nat cat are probably over …

U.S., Rockefeller $100M Fund Promotes Natural Disaster Mitigation, Insurance for Poor

The U.S. Agency for International Development and the Rockefeller Foundation are starting a $100 million project to prepare vulnerable communities for climate- caused humanitarian disasters before they happen. The initiative, which will start in Africa’s Sahel region and was announced …