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Swiss Re finally extricates capital from closed life business, sells ReAssure

Global reinsurance firm Swiss Re has finally achieved its long-held goal of freeing up some of its capital that was locked up in its closed life insurance book consolidator and is set to sell its ReAssure business to Phoenix Group.As far back as 2011, Swiss Re regularly discussed its desire read the full article →

Cordioli named Swiss Re CFO Reinsurance as Lohmann returns to Credit Suisse

Swiss Re has named Claudia Cordioli as its new CFO Reinsurance after incumbent Gerhard Lohmann resigned to move back to the investment bank Credit Suisse.Claudia Cordioli is currently the Head Western & Southern Europe (WSE) for reinsurance at Swiss and will take on the Chief Financial Officer (CFO) role in read the full article →

Swiss Re expects $1.4bn Q3 large loss hit after retrocession

Global reinsurance company Swiss Re has estimated that its third-quarter 2018 large loss burden will amount to roughly $1.4 billion after retrocession, with natural catastrophes driving the majority and typhoon Jebi the most costly event of the quarter.Swiss Re said that it anticipates a $1.1 billion hit due to natural read the full article →

Risk knowledge key, as reinsurers shift to become less traditional: Swiss Re

"We are transitioning into a risk knowledge company that invests into risk pools with long-term growth potential," explained Swiss Re Group CEO Christian Mumenthaler in the reinsurance firms recent annual report.It's a statement that demonstrates Swiss Re's ambition to no longer be seen as just another reinsurance company as it read the full article →

Swiss Re binds less renewals as prices decline, business model adjusts

Reinsurance firm Swiss Re underwrote 18% less renewal business at the 1st January 2017, renewing $8.5 billion of a possible $10.3 billion, as it continues to navigate softening reinsurance markets and looks to protect its profitability.The reinsurer cites "disciplined underwriting" and a reduction in capacity across almost all of its read the full article →

Swiss Re misses Q4 consensus, losses & pricing impact full-year result

Global reinsurance firm Swiss Re reported its fourth-quarter and full-year 2016 results this morning and impacts from large catastrophe losses, man-made losses and the continued pressure from soft market pricing, all impacted the figures.For Q4 2016 Swiss Re experienced a loss in its Corporate Solutions, due to man-made losses and read the full article →

Swiss Re to cut back on P&C, but positive on re/insurance industry trends

Global reinsurance firm Swiss Re believes that the long-term outlook for the re/insurance industry is positive and that growth potential, in what it terms risk pools, will provide it with attractive opportunities to allocate its capital to.This is despite the challenging re/insurance market environment, which Swiss Re acknowledges, with pricing read the full article →

Swiss Re said in talks to sell £1bn Admin Re stake to third-party investors

Global reinsurance giant Swiss Re has been reported to be in talks to sell a £1 billion stake in its closed life insurance book arm Admin Re unit, with pension funds, sovereign wealth and other third-party capital providers thought the likely candidates.Swiss Re has been seeking third-party capital support for read the full article →

Swiss Re in Vita Capital V mortality cat bond early redemption

Global reinsurance firm Swiss Re has continued its trend of redeeming its series of Vita Capital mortality linked catastrophe bonds, with its $275m 2012 transaction Vita Capital V Ltd. called a year early and investors to be paid a premium of 1%.Swiss Re has regularly redeemed its mortality catastrophe bonds read the full article →

Swiss Re sees “agile capital” as an answer to re/insurance pressures

Global reinsurance firm Swiss Re held its investors day today in Zurich, at which it has released an update to its strategy which sees the firm place great importance on being able to manage its risk, asset and capital allocations in an agile manner.Announcing a new four-pillar strategic framework, which read the full article →