Swiss Re

CorSo also returned to profit as its CoR improved 24.9 points to 90.6%.

The Hartford’s customers will have access to Swiss Re’s globally standardised property wordings and online platform.

Cedric Wong has also been promoted to lead the UK engineering and construction wholesale team.

The reinsurer said it planned to name a permanent replacement on receiving all regulatory approvals in the coming months.

Group operations will be reorganised, with all technology responsibilities falling under Ladva’s remit.

Hurricane Ida was the main loss-making event, but once again secondary perils generated more than half of global losses, according to the latest Sigma report.

The reinsurer and the tech firm will collaborate on driverless vehicle products.

Two thirds of natural catastrophe losses are currently unprotected globally, but this is expected to decrease in the future.

The COP26 climate talks in Glasgow represent progress towards a necessary reduction in carbon emissions “but not victory”, with concerns remaining that pledges do not go far enough, according to Swiss Re.

Swiss Re, Munich Re, Hannover Re and Scor have set out divergent strategies on cat as volatility increases and the retro market seizes up.

Swiss Re’s group CUO Thierry Léger has explained to Insurance Insider the rapid progress insurers need to make in the next decade, adding that “every year counts”.

The UN’s Butch Bucani, speaking on Swiss Re’s COP26 panel, warned that the transition was not just about “putting a thermometer in your insurance portfolio and saying ‘it’s 1.5 degrees’”.