Reinsurer Swiss Re AG’s reported an unexpected 6 percent fall in quarterly net profit on Friday as claims from large losses offset higher net premiums and a solid return on investments. Net profit came in at $429 million, below the …
The insurance industry must wake up to the growing cost of “secondary” catastrophe perils, which amounted to more than 60 percent of the $76 billion price tag for insured natural catastrophe losses during 2018, according to Swiss Re Institute’s latest …
Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a hurricane might not be extreme …
Emerging markets will remain the growth engine of the global economy and insurance industry over the next decade, reflecting a continuing shift of economic power from west to east, according to Swiss Re Institute’s latest sigma report. Discussing the macro-economic …
Reinsurer Swiss Re on Thursday posted a 27.2 percent jump in 2018 net profit, despite claims from large-scale natural catastrophes and man-made disasters. Net profit for the full year came in at $421 million, compared with $331 million a year …
FWD Group, the insurer backed by Hong Kong billionaire Richard Li, has hired former Deutsche Bank AG dealmaker Tan Boon-Kee as senior adviser for mergers and acquisitions. Tan, who will be based in Singapore, started in her new role at …
Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane Michael. These natural disaster claims will mainly affect its Reinsurance …
Japanese insurance group MS&AD Insurance Group Holdings (MS&AD) has agreed to increase its minority stake in ReAssure, Swiss Re’s UK closed life book consolidator, by making an additional cash investment of £315 million ($398.7 million). The transaction, which is subject …
As part of the preparation towards a potential initial public offering (IPO) of ReAssure, Swiss Re announced it has appointed Mark Hodges, currently chief executive officer of Centrica Consumer division, as new CEO of ReAssure beginning in March 2019. The …
Households and businesses face a $500 billion global property and mortality protection gap, according to Swiss Re’s latest sigma study. Swiss Re’s report said that the figure illustrates increasing risk vulnerabilities emerging around the world but also presents an opportunity …
