Swiss Re
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First-half executive commentary also reveals Hannover Re is allocating capital for growth as Scor continues portfolio review. -
Losses from severe convective storms in the US were the highest since the first half of 2011.
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Sources told this publication that the carrier could be mulling an open market entry.
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The CEO also casts doubt on the future of event cancellation cover.
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The company says the bulk of the pandemic hit came in the first half as it predicts a “manageable” impact.
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Swiss Re, ReAssure’s previous majority holder, now holds a 13.3% stake in the listed buyer.
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The former InsurTech CEO also joins the casualty reinsurance leadership team.
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The reinsurer’s alliance with Microsoft is close to spawning its first products, the executive says.
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Around $1.5bn in losses stem from P&C Re, with $500mn from CorSo.
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Carlo Bewersdorf joins from Hannoversche Lebensversicherung as the white-label digital insurer prepares to become a standalone business.
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This private sidecar deal brings total investment by PGGM to roughly $500mn.
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Non-life lines have fared better than life products and premium volumes may fully recover in 2021.
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