Swiss Re

It estimated insured losses from nat cats on track to exceed $135bn in 2024.

This year’s top-line growth will be a decade-high.

The market grew at a rate of 32% annually from 2017 to 2022.

The additions included significant reserve bolstering for recent year portfolios 2021-2023.

The stock price rose as analysts declared the L&H reserving review better than feared.

The market reacted to the $2.4bn charge in a positive light.

The company said it is still on target to achieve $3bn net income for the full year.

The carrier’s Q3 net income will be around $100mn, far below consensus.

More public-private partnerships are needed to keep cat risk affordable.

Jens Melhorn, Head of Property Treaty for EMEA at Swiss Re discusses key reinsurance topics, including global conflicts, natural catastrophe trends, and the growing need for public-private partnerships to keep insurance affordable.

The executive also highlighted SRCC in property treaties as a concern.

The carrier highlighted Italian and French hail events in recent years.