Swiss Re News

Report: Despite Pandemic-Driven Emission Redux, We’re Headed to 3-Degrees Warming

A new report finds that despite a brief dip in carbon dioxide emissions caused by the pandemic, the world is still heading for a temperature rise in excess of 3°C this century, a mark that is well beyond the Paris …

Global Natural and Manmade Disasters Cost Insurers US$83B in 2020: Swiss Re

Insurance industry losses from natural catastrophes and man-made disasters across the globe amounted to US$83 billion in 2020, making it the fifth-costliest year for the industry since 1970, according to the Swiss Re Institute in its preliminary sigma estimates. Natural …

Why World Bank’s Controversial Pandemic Bonds Didn’t Function as Hoped

In late January 2015, just after the deadliest outbreak of Ebola in history, then-World Bank President Jim Yong Kim stood in front of a group of Georgetown University students and professors to introduce a new approach to fighting pandemics. Fresh …

Germany’s Getsafe Raises $30M from Swiss Re and Others; Eyes Becoming Full Carrier

Digital MGA Getsafe disclosed $30 million in new financing led by new investor Swiss Re. The Heidelberg, Germany-based InsurTech said the money will help build its market dominance among millennials in its home country and beyond. Specifically, a push into …

How to Address the Next Uninsurable Pandemic — A Black Swan Event

There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with …

Swiss Re Confirms Financial Targets Despite Pandemic

Reinsurance company Swiss Re said it was committed to a stable or increasing dividend as it confirmed its financial targets on Friday despite the coronavirus pandemic that has pressured the industry. The reinsurer has swung to a loss in the …

Swiss Re Names Kitsikis as Head of Client Markets P&C for Canada, English Caribbean

Swiss Re announced the appointment of Agis Kitsikis as head of Client Markets P&C for Canada and English Caribbean, effective immediately. Kitsikis succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of Business Development for EMEA. In …

Swiss Re and Daimler Launch Jointly Owned MGA to Offer Auto, Mobility Insurance

Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new managing general agent called Movinx. The aim of the 50/50 joint venture is to develop fully digital automotive and …

The New Digital Normal and the Future of Work in Reinsurance

It’s been said that necessity is the mother of invention. That proverb was illustrated perfectly during the insurance industry’s successful scramble to conduct its business digitally at the onset of the COVID-19 crisis. This digital transformation is creating a new …

Swiss Re Announces Plans to Streamline Structure of Group

Swiss Re announced further streamlining of the legal entity structure of the group. Following the announcement on June 19, 2020 that the Life Capital Business Unit will be disbanded, Swiss Re also intends to reorganize the legal entity structure of …