Swiss Re
-
Munich Re is among the insurers with a stake in the German carrier. -
Class actions and third-party litigation funding will drive up losses.
-
In July, he took the role on interim basis from Laure Forgeron.
-
Continental composite carriers aim to smooth volatility with new initiatives.
-
The ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
-
Plaintiffs allege that manufacturers and retailers have broken environmental laws.
-
The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
-
Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
-
Anticipation, motivation and inspiration are central to effective implementation.
-
Swiss Re forecasts more risk transferring to reinsurance and retro markets in the future.
-
Growth in the SME sector could help stabilize the market, however.
-
The underwriter has over 20 years' experience in the construction insurance sector.
-
The mid-year renewals point to mounting pressure on reinsurance pricing.
-
Plus, the latest people moves and all the top news of the week.
-
The CEO said the carrier will prioritise margin over top-line growth.
-
The P&C division booked a combined ratio of 81.1% for the first half of 2025.
-
California wildfires account for $40bn of the insured loss tally in H1.
-
Laure Forgeron has worked at the Swiss carrier since 2009 in numerous senior positions.
-
The reinsurer said US president Donald Trump’s policy was already impacting investment.
-
Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
-
Hannover Re’s CEO is lowest paid among peers, despite their pay growing 77% since 2015.
-
P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
-
The reinsurer’s CFO cited a 1.5% net price reduction year to date.
-
Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
-
Specialty reinsurance has experienced high competition for talent.
-
The carrier has also added AIG’s Alice Hawkins to its aviation unit.
-
Growing economic and population exposures are driving potentially larger insured losses.
-
The tariffs could expose insurers to the risk of recession and shrinking income.
-
The asset manager has hired Rom Aviv as head of ILS.
-
Plus, the latest people moves and all the top news of the week.
-
Some of the Big Four are slowing growth as the market softens.
-
This follows the firm’s exit from primary aviation.
-
Plus, the latest people moves and all the top news of the week.
-
CEO Andreas Berger addressed Swiss Re’s primary aviation exit.
-
Katie McGrath is appointed CorSo CUO amid a restructure of the unit.
-
The carrier increased premium by 7% at the January renewals.
-
Sources said that the firm was already preparing to drop the book before the spate of losses.
-
The executive has also worked for Guy Carpenter during her 20-year career.
-
Anthony Norfolk joins from Swiss Re, where he was a senior engineering underwriter.
-
Philip Ryan and Sir Paul Tucker will not stand for re-election.
-
The executive has been with the firm for 27 years.
-
Aggregates that are featuring in the reinsurance market are not the low-attaching ones of prior years, he added.
-
The P&C re unit will target a combined ratio below 85%.
-
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.
-
The executive also highlighted SRCC in property treaties as a concern.
-
The carrier highlighted Italian and French hail events in recent years.
-
Pockets in the business are still experiencing significant stress, she added.
-
The new CEO has owned past challenges and charted a better course, but will need to be relentless in driving change.
-
The company is currently “underweight” in that line of business, he added.
-
The reinsurer constructed a “social inflation index” for a new study.
-
In his first interview as Swiss Re CEO, Andreas Berger acknowledged the mistiming of casualty growth, a purist approach on reserving and organisational complexity.
-
Plus the latest people moves and all the top news of the week.
-
The ratings agency said comparing companies was complicated by the adoption of IFRS 17 accounting.
-
Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
-
Positive cat experience impact of $600mn was offset by $500mn in property and specialty reserves.
-
The P&C Re CoR came in at 84.5%, a 10.2-point YoY improvement.
-
Plus the latest people moves and all the top news of the week.
-
John Dacey will retire at the end of March 2025 after 12 years with the firm.
-
A roundup of all the news you need today, including Lloyd’s chairman candidates.
-
The insurance sector’s RoE is expected to exceed 10% next year.
-
SCS caused global insured losses worth at least $8bn in the first quarter of 2024.
-
The Italian hailstorm event in the summer 2023 saw estimated losses nearly triple.
-
Combined ratios improved all around thanks to better pricing and a benign cat quarter.
-
CFO John Dacey said the carrier had concluded it was not the “best owner” for iptiQ after a strategic review.
-
The carrier also announced that Moses Ojeisekhoba, CEO of Global Clients and Solutions, has resigned.
-
P&C re and CorSo reported improved net profits and combined ratios for the quarter.
-
Swiss Re is among reinsurers to have the right to limit coverage if conflict widened.
-
Insurance Insider revealed this deal in January.
-
The new CEO needs to fix the underwriting, but should also ask the bigger questions.
-
We take a look at the outgoing CEO’s performance as he prepares to handover to CorSo CEO Andreas Berger.
-
Andreas Berger will step down as CEO of Swiss Re CorSo on 1 July.
-
Severe convective storms were the biggest driver of last year’s losses.
-
Hard-won profitability has given carriers room to salt away reserves.
-
The recruit will run E+S Rück and part of European reinsurance.
-
The carrier is also nominating Geraldine Matchett to its board.
-
Opportunities for profitable growth remain in 2024, the agency said.
