Swiss Re AG, the world’s second- biggest reinsurer, said third-quarter profit rose 14 percent, beating analysts’ estimates, following lower-than-expected losses from natural catastrophes. Net income rose to $1.23 billion from $1.07 billion in the year-earlier period, beating the $928.6 million …
Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog Investments. “We’re at an immense inflection point in history where millions …
A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective …
Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …
Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialized focus. Medium-sized, “me-too” reinsurers are ripe for consolidation, …
Swiss Re Ltd., the world’s No. 2 reinsurer, is cutting back on catastrophe coverage and moving into new lines of business as low interest rates and fewer natural disasters undercut prices. “The super profits from nat cat are probably over …
The U.S. Agency for International Development and the Rockefeller Foundation are starting a $100 million project to prepare vulnerable communities for climate- caused humanitarian disasters before they happen. The initiative, which will start in Africa’s Sahel region and was announced …
Swiss Re Ltd., the world’s second- biggest reinsurer, reported second-quarter profit that missed analysts estimates, as earnings from life and health insurance declined. Net income increased to $802 million from $786 million a year earlier, the Zurich-based reinsurer said in …
Swiss Re has released a report, “New emerging risk insights,” which is based on the reinsurer’s SONAR process, described as a “unique tool which uses Swiss Re’s internal risk management expertise to observe and evaluate new and emerging risks. It …
Swiss Re, the world’s second – largest reinsurer, agreed to buy a Chinese unit of RSA Insurance Group Plc as it shifts capital to regions with higher premium growth prospects. The Zurich-based company is buying Sun Alliance Insurance (China) Ltd. …
