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
Tag: 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
Swiss Re Announces Strategic Partnership with Radar Satellite-Based Flood Monitoring Provider ICEYE
Swiss Re has entered into a strategic partnership with ICEYE, the largest commercial synthetic-aperture radar (SAR) satellite operator and flood monitoring provider. Building on ICEYE’s innovative technology, the partnership will advance flood risk management, assist disaster response and speed up claims payments globally. Swiss Re’s clients will benefit from enhanced insights and bespoke solutions. The… Continue reading Swiss Re Announces Strategic Partnership with Radar Satellite-Based Flood Monitoring Provider ICEYE
Swiss Re and Daimler Launch New Company Movinx to Transform Automotive and Mobility Insurance Business
Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx. Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim is to develop fully digital automotive and mobility insurance products that… Continue reading Swiss Re and Daimler Launch New Company Movinx to Transform Automotive and Mobility Insurance Business
Swiss Re Sees Positive Outlook for Renewals, Further Market Hardening Expected
Following rate improvements in many markets, and particularly in loss-affected segments, Swiss Re expects further rate hardening across all lines of business. At the same time, the reliance on underwriting profits increases in the low interest rate environment. Swiss Re also expects more opportunities for re/insurers due to a combination of improving insurance demand and… Continue reading Swiss Re Sees Positive Outlook for Renewals, Further Market Hardening Expected
Infrastructure Investment to Be a Key Driver of Growth in Emerging Markets Post COVID-19 Crisis: SIGMA
Investment in infrastructure development is set to be one of the main drivers of sustainable growth in the emerging markets after the COVID-19 crisis subsides, the latest sigma says. Emerging markets will invest USD 2.2 trillion in infrastructure annually over the next 20 years, equal to 3.9% of gross domestic product (GDP), according to estimates… Continue reading Infrastructure Investment to Be a Key Driver of Growth in Emerging Markets Post COVID-19 Crisis: SIGMA
Socio-Economic Developments, Climate-Change Effects to Drive Rising Losses from Severe Weather Events: SIGMA
The latest sigma “Natural catastrophes in times of economic accumulation and climate change” says that Swiss Re Institute expects that global warming will lead to growing intensity and frequency of severe weather events, but also to more uncertainty in their assessment. Economic and insured losses resulting from such events will rise in the coming decades,… Continue reading Socio-Economic Developments, Climate-Change Effects to Drive Rising Losses from Severe Weather Events: SIGMA
Swiss Re to Propose 5% Increase in Regular Dividend
Swiss Re today published its 2019 Annual Report, Sustainability Report and the agenda for the upcoming Annual General Meeting of shareholders (AGM) on 17 April 2020. Swiss Re’s capital position remains very strong, with a Group SST ratio at 232% as of 1 January 2020, above its 220% target. Based on this and confidence in… Continue reading Swiss Re to Propose 5% Increase in Regular Dividend