Swiss Re News

ILS Issuance in H1 Tops $7B, Reflecting Capital Markets’ Re/Insurance Appetite: Swiss Re

The first half of 2018 aptly demonstrated that the insurance-linked securities (ILS) market has an undiminished appetite to provide re/insurance protection – despite last year’s expensive insured natural catastrophe losses, according to Swiss Re Institute’s sigma publication While not quite …

Swiss Re Names Higginbotham as CEO Reinsurance EMEA, Succeeding Henchoz

Swiss Re announced that Russell Higginbotham has been appointed CEO Reinsurance EMEA and regional president EMEA and member of the group executive committee, effective Sept. 1, 2018. Higginbotham succeeds Jean-Jacques Henchoz, who has decided to leave Swiss Re to become …

Global Insured Catastrophe Losses Decline to $20 Billion in H1: Swiss Re

Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were US$20 billion, down from US$30 billion in H1 2017, according to Swiss Re Institute’s latest sigma study. On the other hand, during the first …

Munich Re to Stop Investing in Coal-Related Business, Insuring New Coal-Fired Plants

Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …

Swiss Re Weighs IPO for UK Closed-Bood Business; Pricing Pressures Hit Earnings

Pricing pressure in the reinsurance industry weighed on Swiss Re’s first-half earnings, overshadowing a drop in natural-catastrophe claims. The company said it’s exploring an initial public offering for its U.K. closed-book business. Swiss Re’s net income fell to $1 billion …

Sustainable Re/Insurance Industry Vital in Uncertain World: Swiss Re’s Ojeisekhoba

Following Hurricane Katrina in 2005, former U.S. Vice President Al Gore described it as “the first taste of a bitter cup that will be proffered to us over and over again.” That devastating event killed more than 1,800 people and …

U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance

New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

Survey Shows More Americans Believe There is ‘Solid Evidence’ of Global Warming

There’s a surefire way to get more people to believe in global warming. Just crank up the heat. A larger percentage of Americans say there is “solid evidence” of global warming than at any time since 2008, when the University …

Global Insurance Premiums Rise by 1.5% in 2017, Driven by Emerging Markets: Swiss Re

Global insurance premiums continued to rise in 2017 with emerging markets leading the way, according to a study published by Swiss Re Institute’s sigma, which is celebrating its 50th anniversary of market research. Global insurance premiums increased 1.5 percent in …

Swiss Re No Longer Offers Re/Insurance to Firms with More Than 30% Coal Exposure

Swiss Re announced it no longer is providing re/insurance to businesses with more than 30 percent exposure to thermal coal across all lines of business. The thermal coal policy applies to both existing and new thermal coal mines and power …