Latest Swiss Re Headlines
All the headlines from our Swiss Re Topic Page, ordered by recency.
News Currents
Jun 19 2005 // Cat model reassessments cause rating and capital changes Last fall’s disastrous hurricanes provided some rough times for the catastrophe modeling industry. Consequently the principal cat modelers – Applied...
Best, S&P Comment on Swiss Re Group’s Results
Mar 18 2005 // A.M. Best Co. and Standard & Poor’s Ratings Services have both issued comments on Swiss Re’s 2004 earnings (See IJ Website March 17), indicating that they were in line with the rating agencies’...
Swiss Re Profits up 45% to $2.167 Billion
Mar 17 2005 // Swiss Re joined Munich Re in reporting strong 2004 results. The group reported net profits of CHF 2.5 billion ($2.167 billion) compared to CHF 1.7 billion ($1.474 billion) in 2003, a 45 percent gain, despite 2004’s...
Swiss Re Names Lu as Manager in Malaysia
Mar 1 2005 // Swiss Re today announced the appointment of Qin Lu as general manager of the company’s Malaysia branch. Andrew Davidson, who served as head of the branch since 2002, is relocating to Swiss Re in Australia to take up...
Swiss Re Notes Successful Renewal Season
Feb 14 2005 // Swiss Re said its “continued focus on profitable underwriting achieved attractive rates in the January renewal,” even as the world’s second largest reinsurer’s premium volume decreased slightly by 2...
Swiss Re Economist Comments on Fed Rate Raise; Non-U.S. Markets
Feb 3 2005 // Swiss Re’s chief economist Kurt Karl endorsed the 25 basis point (bp) Federal Reserve increase in the target fed funds rate to 2.5 percent. “Slow and steady wins the race,” he noted. “We still...
Arbitration on Central Fund Goes Against Lloyd’s; S&P, Best Comment
Jan 26 2005 // When six insurers,* led by Swiss Re, agreed to back Lloyd’s Central Fund with £500 million, with a maximum for any one year of £350 million (around $500 million at the time – $650 million currently) it seemed...
Swiss Re Securitization of U.S. Life Policies
Jan 24 2005 // Swiss Re CEO John Coomber is perhaps the industry’s strongest advocate for turning to the capital markets to securitize risks. So it’s no surprise when the world’s second largest reinsurer announced that...
Swiss Re Announces Aid Measures for SE Asia
Jan 10 2005 // Swiss Re announced that both the company and its employees “are actively supporting the relief initiatives to help the victims of the seaquake tragedy in the Indian Ocean and to aid the rebuilding of the worst hit...
Swiss Re Estimates Tsunami Claims Under $90 Million
Dec 30 2004 // Swiss Re has released a statement indicating that it expects its claims for the tsunamis in the Indian Ocean to be below CHF 100 million ($88.5 million). “On 26 December 2004 near the North of Indonesia, an...
Swiss Re Continues Investigation of Tidal Wave Disaster’s Insurance Implications
Dec 29 2004 // Swiss Re has issued a bulletin commenting on the Indian Ocean disasters, indicating that the complex nature of the event, makes it extremely difficult to project loss estimates. “Tens of thousands of lives have...
Best Affirms Swiss Re (Canada) Ratings
Dec 28 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Toronto-based Swiss Reinsurance Company Canada, and has assigned an issuer credit rating of “aa”. The...
Best Affirms Ratings of Swiss Re America Group
Dec 28 2004 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A+” (Excellent) of Swiss Reinsurance America Corporation, headquartered in Armonk N.Y., and its P/C insurance subsidiaries, which...
Best Affirms Swiss Re’s Financial Strength and Debt Ratings; Assigns Issuer Credit Rating
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A+” (Superior) and assigned an “aa” issuer credit rating to Swiss Reinsurance Company and of its core subsidiaries....
Swiss Re <em>sigma</em> 2004 Catastrophe Estimates: 21,000 Dead; $105 Billion Economic Loss; $42 Billion Insured
Dec 21 2004 // According to preliminary estimates from Swiss Re’s forthcoming sigma report, more than 21,000 people around the world lost their lives as a result of natural and man-made catastrophes in 2004. Economic losses were...
Swiss Re Conference Sees Continued Industry Growth
Dec 15 2004 // Andreas Beerli, Head of Swiss Re’s U.S. P/C business in the Americas, speaking at the company’s annual year-end economic and insurance industry review and outlook, asserted that the P/C reinsurance industry...
S&P to Withdraw Swiss Re (Australia) Ratings Jan. 1
Dec 14 2004 // Standard & Poor’s Ratings Services announced that on Jan. 1, 2005, it will withdraw its “A”‘ insurer financial strength and counterparty credit ratings on Swiss Re Australia Ltd., a subsidiary...
Swiss Re “Risk Perception” Report Finds Accelerating Changes Complicate Risk Management
Dec 10 2004 // A new report in Swiss Re’s “Risk Perception” series finds that change is “continually accelerating, possible consequences tend to be greater and increasing uncertainty is rendering risks less...
Swiss Re CEO to Open 2005 LOMA International Underwriting Congress
Dec 8 2004 // Swiss Re CEO John Coomber will deliver the keynote address at the 2005 LOMA International Underwriting Congress (IUC) scheduled to take place April 17-20 at the NogaHilton Hotel in Geneva, Switzerland. Coomber, the first...
Shimpi Named Practice Leader at Towers Perrin
Dec 7 2004 // The Tillinghast business of Towers Perrin has appointed Prakash Shimpi as practice leader with global responsibility for Enterprise Risk Management (ERM) in its New York office. In this role, Shimpi will lead the...
