Swiss Re

Rory Morison was hired last month to lead the Australian business.

The executive’s career to date includes key claims roles at Chubb and Swiss Re.

With new leadership at some of the largest continentals, there will be close attention to how their tactics in changing lines of business will evolve.

Podmore joins from Swiss Re, where he held the role of lead cyber underwriter.

The reinsurer said hardening of property reinsurance conditions must continue.

Swiss Re has underperformed its reinsurance peers over the past 12 months, an analyst said.

Rising counterparty risk from economic slowdown will support prices and growth.

The report also stated that digital technology could generate savings of 10%- 20% in other processes in the value chain.

The reinsurer said carriers could face challenges around underwriting profits and solvency levels.

The decision to align across business units had removed the need for the regional presidents' roles, the company said.

As the curtain comes down on the millionth Monte Carlo Rendez-Vous, and the prices in the cafes and restaurants are presumably reset to their customary levels, the conference has again done its main job.

Hurricane Idalia is a reminder of the new normal cat environment and that reinsurers must continue to ensure they do not pick up attritional losses, the company’s P&C head said.