In the latest sexism case to hit the male-dominated insurance industry, Swiss Re has lost an employment tribunal brought by a female underwriter. At a central London hearing, a three-person panel ruled that a senior manager’s comments about Julia Sommer were “sexist, demeaning, and derogatory.” At a work drinks, the manager made a joke about… Continue reading Swiss Re Loses Sex Discrimination Employment Tribunal
Tag: Swiss Re
Swiss Re Launches New Insurance-Linked Investment Advisory Business
Swiss Re announces the formation of its new investment advisory firm, Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC), an SEC-registered investment adviser. The firm provides qualified institutional investors with investment management services, with a focus on catastrophe bonds. SRILIAC’s investment strategy focuses on insurance-linked securities, primarily catastrophe bonds, giving investors access to Swiss Re’s expertise… Continue reading Swiss Re Launches New Insurance-Linked Investment Advisory Business
Pandemic Takes Toll on Mental and Physical Wellbeing, Leading to More Online Insurance Purchases
A Swiss Re Institute survey of 11,000 consumers worldwide conducted two years into the COVID-19 pandemic found that the pandemic has resulted in a greater focus on health and financial security. This has led to an increase in online insurance purchases as well as a greater willingness to share personal health data, particularly among the… Continue reading Pandemic Takes Toll on Mental and Physical Wellbeing, Leading to More Online Insurance Purchases
Swiss Re Targets a Return on Equity of 14% in 2024
Swiss Re’s strategy of building risk insights and successful risk partnerships complements its risk transfer business Group return on equity (ROE) target of 14% in 2024 to be achieved by higher L&H Re profit contributions, attractive margins in the property and casualty businesses and continued cost discipline Attractive opportunities to deploy capital across all businesses;… Continue reading Swiss Re Targets a Return on Equity of 14% in 2024
Extreme Flood Events Drive High Losses in 2021
Last year, global economic losses from floods amounted to $82 billion, yet insured losses stood at slightly more than $20 billion, indicating a large protection gap. In 2021, floods accounted for 31% of global economic losses from natural catastrophes, only 2% less than tropical cyclones, according to Swiss Re Institute’s latest sigma report, “Natural catastrophes… Continue reading Extreme Flood Events Drive High Losses in 2021
Swiss Re One of Two Pioneers to Receive the Digital Trust Label
Swiss Re is one of two pioneers to have a digital product tested and successfully certified by the Digital Trust Label, the first-ever label for digital responsibility launched by the Swiss Digital Initiative. With the Swiss Digital Trust Label users can easily identify trustworthy digital services, and providers of digital services can now declare their… Continue reading Swiss Re One of Two Pioneers to Receive the Digital Trust Label
Global Insured Catastrophe Losses Rise to $112 Billion in 2021: Swiss Re
According to Swiss Re Institute’s preliminary sigma estimates, extreme weather events in 2021, including a deep winter freeze, floods, severe thunderstorms, heatwaves, and a major hurricane, resulted in annual insured losses from natural catastrophes estimated at $105 billion, the fourth highest since 1970. While Hurricane Ida was the most expensive natural disaster in 2021, winter… Continue reading Global Insured Catastrophe Losses Rise to $112 Billion in 2021: Swiss Re
Swiss Re Offloads Half of Its Phoenix Group Holding
Phoenix Group said on Wednesday that Swiss Re has sold 66,199,917 shares in Phoenix, representing about 6.6% of its total issued share capital. The FTSE 100 firm said the sale took place by an accelerated bookbuild, to a range of new and existing institutional investors. In order to support an orderly sell down and improve… Continue reading Swiss Re Offloads Half of Its Phoenix Group Holding
Swiss Re’s Q1 Net Income Hits $333m Despite Over $1B of COVID & Cat Losses
Global reinsurance giant Swiss Re has reported net income of $333 million for the first quarter of 2021 against a loss of $225 million in the prior year period, despite losses related to COVID-19 and large natural catastrophes of more than $1 billion. Alongside growth in net income across the Group, the reinsurer has also… Continue reading Swiss Re’s Q1 Net Income Hits $333m Despite Over $1B of COVID & Cat Losses
World Economy Set to Lose Up to 18% GDP from Climate Change If No Action Taken
Climate change poses the biggest long-term threat to the global economy. If no mitigating action is taken, global temperatures could rise by more than 3°C and the world economy could shrink by 18% in the next 30 years. But the impact can be lessened if decisive action is taken to meet the targets set in… Continue reading World Economy Set to Lose Up to 18% GDP from Climate Change If No Action Taken