Latest Swiss Re Headlines
All the headlines from our Swiss Re Topic Page, ordered by recency.
Swiss Re Offers Risk Managers Solvency II Advice for a ‘Post-crisis World’
May 18 2010 // “Risk Managers must try to talk about ‘the elephant in the room,’ enabling an open dialogue about business risks,” advised Swiss Re’s Chief Risk Officer, Raj Singh, as the reinsurer presented...
(Re)Insurers Take on $5 Billion Risk with Soccer World Cup Coverage
May 10 2010 // Soccer teams and fans aren’t the only ones girding themselves for the start of the World Cup in South Africa. The world’s insurance companies have sold policies covering $5 billion worth of risks linked to the...
Swiss Re Posts $158 Million Q1 Net Income, Despite Natural Catastrophes
May 6 2010 // Swiss Re reported net income of $158 million for the first quarter of 2010, a successful result given the “high natural catastrophe losses in the first quarter.” Swiss Re also noted that the “estimated...
Swiss Re ‘sigma’ Study: Insured 2009 Disaster Losses Cost $26 Billion
Mar 16 2010 // Swiss Re’s annual sigma study has calculated that “natural catastrophes cost insurers $22 billion in 2009, while man-made disasters cost an additional $4 billion. Insured losses were highest in North America,...
Swiss Re Estimates Chile Quake Loss at $500 Million; Xynthia $100 Million
Mar 10 2010 // Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates...
Reinsurers Say $4 to $7 Billion Chile Quake Loss ‘Unlikely’ to Raise Rates
Mar 10 2010 // Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader...
Ratings Recap: Swiss Re (Cat Bond), Transmonde, Sagicor, Bahamas First
Mar 10 2010 // Standard & Poor’s Ratings Services has assigned its preliminary ‘B-‘ credit rating to the class II-CN3 notes series 2010-1 issued under the principal at-risk variable-rate note program, Successor X...
Swiss Re Rebounds from 2008 Loss; Reports $469 Million FY Net Income
Feb 18 2010 // Swiss Re returned to profit in 2009. The world’s number two reinsurer reported net income of CHF506 million [$468.9 million], compared to a loss of CHF 864 million [$800.6 million] in 2008. The earnings statement...
Business Moves
Feb 7 2010 // Swiss Re, Berkshire Hathaway Swiss Re concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written...
Catlin Appoints Zingg Group Chief Investment Officer
Feb 4 2010 // The Bermuda-based Catlin Group Limited announced the appointment of Martin Zingg as chief investment officer of the Catlin Group, effective March 1. He will be based in Catlin’s office in Zurich, Switzerland. Zingg...
Swiss Re in $1.268 Billion Deal with Berkshire Hathaway Life Insurer
Jan 19 2010 // Swiss Re has concluded an agreement with Berkshire Hathaway Life Insurance Company of Nebraska to cede, a “closed block of yearly renewable term individual life reinsurance business, written prior to 2004.” The...
Chartis Names Swiss Re’s Scherer as General Counsel
Jan 12 2010 // Global property/casualty insurer Chartis Inc., formerly AIG, has named Thomas Scherer as senior vice president and general counsel, responsible for worldwide legal operations. Most recently, Scherer worked for seven years...
Swiss Re Obtains $150 Million Cat Bond Cover for Calif. Quakes
Jan 5 2010 // Swiss Re has entered into a transaction with Redwood Capital XI Ltd., a Cayman Islands exempted company financed through the offering of insurance-linked securities, to receive up to $150 million in the event of a...
Swiss Re Forecasts Increasing Demand for Natural Catastrophe Coverage
Dec 29 2009 // Swiss Re has concluded that, despite the unusually quiet 2009 hurricane season, “overall natural catastrophe losses have increased significantly over time and are expected to grow further. “The premium for our...
Economies Slowly Recovering; Climate Change Negotiators Still Talking
Dec 20 2009 // Swiss Re’s recent Economic Forum at the reinsurer’s iconic London headquarters presented a far more encouraging picture of the world’s financial condition than a year ago. Thomas Hess, Swiss Re’s...
2009 P/C Insurance Mergers, Acquisitions Large and Small
Dec 20 2009 // Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies....
Best Affirms Swiss Re and Subs ‘A’ Ratings; Outlook Stable
Dec 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed...
Swiss Re Obtains $150 Million Backup for Hurricanes, Quakes and Windstorms
Dec 3 2009 // Swiss Re announced that it has entered into a transaction with Successor X Ltd. a Cayman Islands exempted company financed through the offering of insurance-linked securities, to receive up to $150 million of...
Swiss Re Economists See Gradual Recovery; Regulation Concerns
Dec 1 2009 // Swiss Re’s Economic Forum, held today at the reinsurer’s iconic London headquarters, presented a far more encouraging picture of the world’s financial condition than a year ago. However, there may be...
Swiss Re Q3 Profit Tops Forecasts; Capital Strengthened
Nov 3 2009 // Swiss Re strengthened its capital in the third quarter, it reported on Tuesday, boosting its chances of repaying a costly convertible loan from Warren Buffett as it beat operating profit forecasts in its core...
