August 18, 2023
S&P Global Ratings has revised its outlooks for Munich Re and Swiss Re, affirming both reinsurers’ “AA-” issuer credit and financial strength ratings. Munich Re’s outlook was revised to positive from stable on improving diversification, while Swiss Re’s outlook was …
August 9, 2023
Global natural catastrophes cost insurers US$50 billion in the first half, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, according to Swiss Re. “Severe convective storms – storms associated with thunder, lightning, heavy rain, …
August 4, 2023
Swiss Re AG said first-half net income rose more than ninefold to $1.4 billion from a year earlier, driven by contained natural catastrophe losses and a rebound in its life and health business to pre-pandemic levels. Net premiums earned and …
July 24, 2023
Reinsurance executives from Convex Group Ltd. and Swiss Re completed The World’s Toughest Row, a race from California to Hawaii, breaking a world record as the fastest mixed-gender crew in history to complete the trip in 34 days, 8 hours …
July 17, 2023
Systemic shocks related to the recent pandemic, the war in Ukraine, natural catastrophe losses and elevated inflation have raised questions about reserve adequacy for property/casualty insurers, according to a Swiss Re report. These recent shocks have pushed up claims and …
July 12, 2023
The insurer Swiss Re said on Wednesday that it planned to promote its deputy chairman Jacques de Vaucleroy to the role of permanent chairman of the board after his predecessor Sergio Ermotti resigned to lead UBS. The reshuffle is part …
July 7, 2023
This edition of International People Moves details appointments at Swiss Re, BMS Re, and QBE Canada. A summary of these new hires follows here. Swiss Re Taps AGCS’s Shahkarami as Head P&C Solutions Swiss Re has appointed Ali Shahkarami as …
July 5, 2023
The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people familiar with the discussions. The U.N.-convened Net-Zero Insurance Alliance …
June 28, 2023
Climate change is the cause of a key emerging risk identified by Swiss Re’s SONAR report, which is leading to the opening of previously frozen waterways in the Arctic and the creation of new shipping and trade routes. The economic …
June 27, 2023
Insurers have come a long way on climate change, but they have a long way to get where we need to be to deal with a more hazardous planet. That was the assessment from Washington Insurance Commissioner Mike Kreidler, a …