Swiss Re
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The P&C reinsurance division took $1.2bn of large losses in the nine months to 30 September. -
Although estimates for the Q3 disasters vary, in aggregate the events are likely to generate insured losses north of $10bn.
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Evidence is mounting that European carriers are being hurt more than expected by third-quarter losses.
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Tavaziva Madzinga will replace Frank O’Neill as CEO for Swiss Re’s UK and Ireland operation.
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The Swiss Re executive expects broadly stable property catastrophe rates in German-speaking and central, eastern and northern Europe.
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The Insider 50 grew by 1.3 percent week on week as the third-quarter earnings season continued
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A deal could see the reinsurance company buy into the challenged Chinese insurer.
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Almost two-thirds of the losses are expected to stem from homeowners’ claims.
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The estimated $1.1bn of natural catastrophe losses include a $500mn hit from Typhoon Jebi in Japan.
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Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
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Jebi is said to have hit third layers of some occurrence covers while Trami has eaten through back-up protections.
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Michael losses are likely to fall on the reinsurance market due to the low attachment points of the Floridian homeowners’ insurers.
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