Tag: Swiss Re

Waymo Is Using Insurance Data About Self-Driving Cars to Bolster Its Safety Case

self driving safety

Waymo is using insurance data to make the case that its self-driving cars are safer than human drivers. The report, a result of the collaboration first announced last year between the Alphabet-owned company and the insurer Swiss Re, is intended to show how driverless vehicles crash less often and damage less property than human-driven vehicles.

Best’s Market Segment Report: Europe’s Big Four Reinsurers Benefit from Hard Market Conditions

P&C underwriting performance improves except Person Lines

Heightened demand and higher prices contributed to a 6% increase in net premiums written in 2022 (when measured in USD) by Europe’s Big Four reinsurance groups—Munich Re, Hannover Re, Swiss Re and SCOR—according to a new AM Best report.

Severe Thunderstorms Account for Up to 70% of All Insured Natural Catastrophe Losses in H1 2023: Swiss Re

Insured losses 2023

A series of widespread thunderstorms (severe convective storms) hit the US and account for 68% of global insured natural catastrophe losses in the first half of 2023, highlighting the increasing loss impacts of secondary perils.

Reserving: Higher Uncertainty Puts Adequacy in the Spotlight

Reserves and insurance capacity

Larger reserves for the most recent years and a cushion for as-yet unreported claims suggest a solid buffer is in place, but recent shocks are pushing up claims, raising questions about adequacy. With uncertainty high, insurers may reduce risk appetite and new business capacity, which may in turn sustain the hard market conditions.