Swiss Re

Recently arrived corporate solutions chief Andreas Berger is reviewing the primary commercial arm of the Swiss reinsurer.

Half of the buyback is contingent on an increase in the carrier’s capital position.

The carrier warns secondary peril risk is on the rise after the Camp Fire cost $12bn.

With two consecutive years of heavy catastrophe losses, it’s clear why Swiss Re won’t throw caution to the wind – even though the days when it went cap in hand to Warren Buffett are long gone.

The second tranche could hinge on a reduction of the reinsurer’s stake in UK legacy life business ReAssure to less than 50 percent.

China will be the biggest insurance market by the mid-2030s.

The company will no longer offer excess casualty and lead umbrella coverage to most clients whose revenue exceeds $10bn.

The Austrian carrier reserves the right to insure coal risks in exceptional cases in countries where the economy and employment depend on the sector.

The corporate solutions division remained in the red, with a $405mn loss.

The Eurekahedge ILS Advisers index posted its worst December performance on record.

The reinsurer pays an average of CHR89.17 for the stock, which is 8.2 percent below the Friday closing price.

Rates softened slightly as buyers returned to the market.