Latest Swiss Re Headlines
All the headlines from our Swiss Re Topic Page, ordered by recency.
Swiss Re Claims Executive Huff Named Missouri Commissioner
Feb 22 2009 // Gov. Jay Nixon has picked a Swiss Re insurance claims executive to lead the Missouri insurance department. John Huff, a Missouri native, has worked since July 2008 at the Zurich headquarters of Swiss Re, one of the...
Swiss Re CEO Aigrain Resigns; Lippe to Succeed Him
Feb 12 2009 // Swiss RE’s CEO Jacques Aigrain resigned today, Thursday, February 13, a week after U.S. investor Warren Buffett stepped in with new capital and the reinsurer said it was disbanding its financial markets...
Swiss Re Claims Exec Huff Named Missouri Insurance Commissioner
Feb 9 2009 // Gov. Jay Nixon has picked a Swiss Re insurance claims executive to lead the Missouri insurance department. John Huff, a Missouri native, has worked since July 2008 at the Zurich headquarters of Swiss Re, one of the...
S&P, Best Put Swiss Re’s Ratings on Negative Credit Watch
Feb 6 2009 // Reactions from the rating agencies to Swiss Re’s announcement of further losses (See IJ web site – https://www.insurancejournal.com/news/international/2009/02/05/97610.htm) has been swift. A.M. Best announced...
Swiss Re to Post $862 Million 2008 Net Loss; Buffett to Invest $2.6 Billion
Feb 5 2009 // The Swiss Re Group announced that it expects to report a net loss for the full year 2008 of approximately CHF 1 billion ($862.5 million) for 2008, compared to net income of CHF 4.2 billion ($3.62 billion) in 2007. It will...
Swiss Re Pays Price for Uncertainty
Feb 4 2009 // Investors have punished Swiss Re this year on fears it could write down further billions of dollars of toxic assets. A lack of transparency from the world’s second-largest reinsurer is adding to worries. “We...
Ratings: Swiss Re (Canada), New India, Transsib Re, HDI, Willow Re (Notes), Euro Arab
Feb 3 2009 // A.M. Best Co. has withdrawn the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Swiss Reinsurance Company Canada and has assigned a category NR-5 (Not...
Lloyd’s Web Site Summarizes Current Opinions on Climate Change
Jan 23 2009 // “The string of natural catastrophes that wreaked havoc in 2008, costing the global economy $225 billion and leaving insurers with their second costliest year in history, graphically highlights the increasing risks to...
Swiss Re Analyzes Benefits of ‘Sustainable Agricultural Insurance’
Jan 9 2009 // “Agricultural insurance plays an important role in stimulating investment in agriculture and in stabilizing farmers’ income,” concludes a recently issued report from Swiss Re. The report, “Setting...
Swiss Re Signs $1.5 Billion Letter of Credit with JP Morgan
Dec 22 2008 // Swiss Re has reacted to what it describes as “the unprecedented turmoil in the capital markets,” by arranging a $1.5 billion Letter of Credit (LoC) facility with JP Morgan. The world’s largest reinsurer...
Swiss Re Study: 238,000 Dead, Losses $225 Billion from 2008 Catastrophes
Dec 18 2008 // According to initial estimates from the forthcoming Swiss Re sigma study on catastrophes, more than 238,000 people lost their lives to natural catastrophes and man-made disasters in 2008 – the fourth largest number...
Swiss Re Sees ‘Severe Recession;’ Insurers Should Preserve Capital
Dec 10 2008 // At their most recent conference in London, Swiss Re’s economists predicted a “severe recession until mid 2009 in industrialized economies, including the United States and Europe.” They also expect that...
Swiss Re <em>sigma</em> Report Analyzes Emerging Markets, Takaful
Dec 3 2008 // Swiss Re’s newly released sigma study explores the latest developments in the insurance sector of emerging market economies, with a special focus on the growing market for takaful, a form of Islamic insurance. Swiss...
Insurance Industry Charitable Foundation to Honor Swiss Re
Nov 18 2008 // The Insurance Industry Charitable Foundation (IICF) announced that it will honor Pierre Ozendo, CEO and chairman of the Americas division of Swiss Re, for the company’s ongoing commitment to developing sustainability...
S&P Says Swiss Re’s ‘AA-‘ Ratings ‘Unaffected by Q3 Net Loss’
Nov 5 2008 // Standard & Poor’s Ratings Services said that its ‘AA-‘ insurer financial strength and long-term counterparty credit ratings on Zurich-based global reinsurance group Swiss Reinsurance Company (Swiss...
Swiss Re Reports $259 Million Q3 Net Loss: $754 Million 9-Month Profit
Nov 4 2008 // Swiss Re reported a net loss of CHF 304 million ($259.3 million) for the third quarter of 2008, despite what it described as “good technical results for Property & Casualty.” For the first nine months of...
Swiss Re Completes Barclay’s Life Acquisition
Nov 3 2008 // Swiss Re has completed the acquisition of Barclays Life Assurance Company Ltd. for a cash purchase price of £762 million ($1.235 billion). Swiss Re noted that the transaction was first announced on August 5, 2008 and...
Swiss Re Partners with CelsiusPro for Weather Derivatives
Oct 3 2008 // Swiss Re announced a partnership with Zurich-based CelsiusPro to offer weather risk transfer solutions to European companies. Swiss Re said it would “provide the risk capacity and expertise to support...
Swiss Re Writedowns Less than Feared, Keeps Financial Targets
Sep 25 2008 // Swiss Re said on Thursday its investment portfolio remains sound despite tough financial markets and reaffirmed its targets as additional writedowns were lower than many had expected. The world’s largest reinsurer...
Ratings Recap: AIG (Taiwan) Lehman Re, Swiss Re (Denmark), Connaught, Allianz (Austria), China Ins. (Singapore)
Sep 18 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from...
