Swiss Re Faces $6.3M Claim Over Sex Discrimination, Unfair Dismissal March 30, 2023 By Kirstin Ridley A former Swiss Re underwriter, who last year won a sex and maternity discrimination and unfair dismissal case, is seeking...
Ermotti to Step Down as Swiss Re Chair to Take UBS Role; Interim Chair Named March 29, 2023 Sergio P. Ermotti is stepping down as the chairman of Swiss Re, following his appointment as the new CEO of...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022 March 24, 2023 By L.S. Howard High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to...
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re March 22, 2023 By L.S. Howard Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according...
Swiss Re Closes $700M Alternative Capital Deal, Enabling Growth in Favorable Market March 7, 2023 Swiss Re has closed a US$700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon...
Cyber Insurance Market Back From Brink After Onslaught of Ransomware Attacks February 27, 2023 By Max Reyes The cyber-insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new...
People Moves: AXIS Appoints Galanski Head of N.A. P/C Programs; Ningen Named Swiss Re CEO of U.S. P/C February 22, 2023 AXIS Appoints Galanski as Head of North America Property & Casualty Programs Gabriel Galanski has joined AXIS Capital Holdings Limited...
People Moves: Swiss Re Promotes Ningen to CEO, US P&C Re; MS Reinsurance Hires 4 for Data, Underwriting; Aon Promotes Day, Dickson in Political Violence & Terrorism Team February 22, 2023 This edition of International People Moves details appointments at Swiss Re, MS Reinsurance, and Aon. A summary of these new...
Earthquakes Deliver Another Blow to Turkey’s Re/Insurance Industry: Reports February 8, 2023 By L.S. Howard Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow to the local re/insurance industry, according...
Swiss Re Revamps Structure by Splitting Reinsurance Biz, Creating Client Business Unit February 2, 2023 Swiss Re announced plans to streamline its organizational structure by splitting its current Reinsurance Business Unit into P&C Re and...