Swiss Re
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In a virtual Baden Baden conference, the reinsurer emphasised a push on addressing secondary perils after a high flood loss year.
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Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors.
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The carrier also estimated its European flooding burden will be $520mn.
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Staff movement is high in the D&O market as carriers look to capitalise on buoyant market conditions.
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An increase in the frequency and severity of nat cats and cyber incidents is pushing up protection demand.
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The property & specialty leader described the phenomena as a “systemic trend”, separate from a pandemic-led cycle of economic inflation.
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The reinsurer warns that climate risks could increase average weather-related property cat losses in advanced markets by more than 60%.
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Plus the latest senior executive moves and all the top news from the week.
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The executive spoke candidly about past management issues at the firm and expressed confidence about the long-term health of the business.
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Coletti takes the role previously held by Anthony Cordonnier, who recently joined reinsurance broker Guy Carpenter.
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The offering uses highest wind speeds at set locations as triggers for payouts.
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It is part of the firm’s commitment to reach net-zero emissions in its own operations by 2030.
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