Three out of four of the major European reinsurers reported their profits were negatively affected as a result of elevated natural catastrophe claims and a first round of claims reserves from the Russia-Ukraine war, according to Fitch Ratings in a …
Premium rates for natural catastrophe risks in Florida continue to be inadequate, which is why Swiss Re is giving that market a wide berth — for the time being, at least. “Historically we believe the Florida market has been underpriced …
Swiss Re reported a group net loss of $248 million during the first quarter, as a result of headwinds such as the war in Ukraine, higher-than-expected natural catastrophes and the ongoing COVID-19 pandemic. This loss compares with net income of …
Swiss Re has secured US$1.15 billion in stop-loss cover that protects the entire group for severe underwriting-related losses over a five-year period. Swiss Re said the transaction supports its “growth opportunities in an attractive reinsurance market.” Developed in partnership with …
Swiss Re shareholders re-elected Sergio Ermotti as chair, the company said on Wednesday, despite a recommendation by proxy adviser Institutional Shareholder Services (ISS) to vote against him over a lack of gender diversity. Ermotti won 79% of the vote in …
More than 50 severe flood events around the world caused combined economic losses of US$82 billion in 2021, while insured losses stood at slightly more than US$20 billion – more evidence of a large ongoing global insurance protection gap of …
Swiss Re announced that Ivan Gonzalez has been appointed CEO Reinsurance China and China country president with effect from July 1, 2022. He will relocate from New York to Beijing. Katie McGrath will succeed Ivan as regional CEO for Swiss …
Swiss Re, the world’s second biggest reinsurer, said it would increase the number of oil and gas producers for which it refuses cover, following mounting pressure on big business to help the drive to curb a global temperature rise. In …
Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia. The German insurer and Swiss reinsurer join banks Deutsche, Goldman Sachs and JPMorgan Chase which have exited …
The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or appearance cancellations, industry sources say. Olympic Games, top events …
