Munich Re holds onto the top spot in AM Best’s annual ranking of the top 50 global reinsurance groups for 2022, with Swiss Re coming in as the second-largest reinsurer — for the third year in a row. These two …
Claims for weather-related incidents are set to exceed $100 billion for the third year in a row, as floods, hail and wildfires linked to climate change become more frequent. Munich Re has put the total global insured costs of natural-catastrophe …
S&P Global Ratings has revised its outlooks for Munich Re and Swiss Re, affirming both reinsurers’ “AA-” issuer credit and financial strength ratings. Munich Re’s outlook was revised to positive from stable on improving diversification, while Swiss Re’s outlook was …
Global natural catastrophes cost insurers US$50 billion in the first half, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, according to Swiss Re. “Severe convective storms – storms associated with thunder, lightning, heavy rain, …
Swiss Re AG said first-half net income rose more than ninefold to $1.4 billion from a year earlier, driven by contained natural catastrophe losses and a rebound in its life and health business to pre-pandemic levels. Net premiums earned and …
Reinsurance executives from Convex Group Ltd. and Swiss Re completed The World’s Toughest Row, a race from California to Hawaii, breaking a world record as the fastest mixed-gender crew in history to complete the trip in 34 days, 8 hours …
Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, according to a Swiss Re report. These recent shocks have pushed up claims and …
The insurer Swiss Re said on Wednesday that it planned to promote its deputy chairman Jacques de Vaucleroy to the role of permanent chairman of the board after his predecessor Sergio Ermotti resigned to lead UBS. The reshuffle is part …
This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has appointed Ali Shahkarami as …
The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people familiar with the discussions. The U.N.-convened Net-Zero Insurance Alliance …
