Total economic losses from natural and man-made catastrophes fell to around USD 140 billion in 2019 from USD 176 billion last year, according to preliminary sigma estimates from Swiss Re Institute. Global insured losses are estimated to be around USD 56 billion, down from USD 93 billion in 2018 and below the annual average (USD… Continue reading Global Catastrophes Caused $56B Insured Losses in 2019: Swiss Re
Tag: Swiss Re
Swiss Re Agrees to Sell ReAssure to Phoenix Group
Swiss Re announced today an agreement to sell its subsidiary ReAssure Group plc to Phoenix Group Holdings plc. As part of the agreement, which values ReAssure at GBP 3.25 billion, Swiss Re will receive a cash payment of GBP 1.2 billion, shares in Phoenix representing a 13% to 17% stake and be entitled to a… Continue reading Swiss Re Agrees to Sell ReAssure to Phoenix Group
Swiss Re Confirms Strategy, Targets; Plans Further Growth In Reinsurance
Reinsurer Swiss Re on Monday confirmed its strategy, targets and capital management priorities. At Investors’ Day, the company noted that the Reinsurance Business Unit, which remains the core engine of profitability, is pursuing a targeted profitable growth strategy, with strong contribution from Transactions and Solutions. Transactions, which contributed about 30% to the unit’s economic profit… Continue reading Swiss Re Confirms Strategy, Targets; Plans Further Growth In Reinsurance
Insurance Markets Will Grow Despite Weakening Global Economic Growth: SIGMA
Insurance markets continue to support resilience, with global premiums forecast to increase by 3% annually in real terms in 2020 and 2021, despite a slowing world economy. In its latest sigma, “Sustaining resilience amid slowing growth: global economic and insurance market outlook 2020/21,” Swiss Re Institute (SRI) forecasts US and euro area growth next year… Continue reading Insurance Markets Will Grow Despite Weakening Global Economic Growth: SIGMA
Swiss Re and Pioneer to Launch Innovative Telematics Solution for Insurers
Swiss Re and global car electronics company Pioneer have co-developed an innovative telematics solution that provides insurers with better and more personalised risk assessment, while supporting safer driving behaviour. The combined solution will be integrated in Swiss Re’s Coloride app and is set to be launched globally early next year. Swiss Re’s Coloride is one… Continue reading Swiss Re and Pioneer to Launch Innovative Telematics Solution for Insurers
Swiss Re Committed to Net-Zero Emissions by 2050 on the Asset and Liability Side
The effects of climate change and global warming are already evident and shaking up our risk landscape: warmer average temperatures, rising sea levels, melting ice caps, longer and more frequent heatwaves, erratic rainfall patterns and more weather extremes. Tackling climate change and advancing the transition to a low-carbon economy are key topics for Swiss Re’s… Continue reading Swiss Re Committed to Net-Zero Emissions by 2050 on the Asset and Liability Side
Swiss Re and Capsicum Re Deliver “Decrypt” – A Holistic Cyber Reinsurance Solution
Decrypt, a new holistic cyber reinsurance solution is launched today by co-creators Swiss Re and Capsicum Re, the specialist reinsurance broker. Decrypt provides a single, flexible, end-to-end solution to insurers’ cyber exposure challenges, including embedded, silent, and affirmative cyber risks. Decrypt’s modular approach is comprised of risk identification, quantification and transfer. It offers market-leading cyber-risk… Continue reading Swiss Re and Capsicum Re Deliver “Decrypt” – A Holistic Cyber Reinsurance Solution
Use of Increasingly Advanced Analytics May Present A Crucial Way for P&C Insurers to Unlock Tangible Value
The latest sigma report from the Swiss Re Institute, “Advanced analytics: unlocking new frontiers in P&C insurance”, suggests that technology advances are enabling P&C insurers to unlock new frontiers in risk assessment and mitigation thanks to advanced analytics. Past successes that focused on improving expense ratios have catalyzed new investment with pilots by insurers showing… Continue reading Use of Increasingly Advanced Analytics May Present A Crucial Way for P&C Insurers to Unlock Tangible Value
Swiss Re Institute Estimates Global Economic Losses of $44B from Catastrophes in H1 2019
Global economic losses from natural catastrophes and man-made disasters in the first half of 2019 amounted to $44 billion, according to Swiss Re Institute’s preliminary sigma estimates. This figure is well below $109 billion, the average first-half economic losses of the previous ten years. It is also lower than the losses of $51 billion reported… Continue reading Swiss Re Institute Estimates Global Economic Losses of $44B from Catastrophes in H1 2019
Swiss Re’s ReAssure Buys Quilter Closed Book Pension Unit for £425 Million
Swiss Re’s Britain-based ReAssure unit has agreed to buy the closed book business of Quilter for 425 million pounds. The acquisition will add over 200,000 customer policies and 12 billion pounds of assets to ReAssure’s platform, Swiss Re said on Monday. The business consisted of Old Mutual Wealth Life Assurance Limited and its subsidiary Old… Continue reading Swiss Re’s ReAssure Buys Quilter Closed Book Pension Unit for £425 Million