- Newslink Global Insurance Trends-Editor's Weekly Overview
- PRA publishes Solvency II Consultation Paper
- Insurance Europe and other EU industry associations raise concerns regarding application timeline for new EU disclosure rules for sustainable investments and risks
- S&P Global Ratings welcomes latest amendments to IRFS 17
- Charles Taylor board backs cash offer of £261m from LMP Bidco
- NeuralMetrics, a InsurTech data provider using natural language processing(NLP) technologies to power a real-time, alternative data engine for general insurers, announces official launch
- Duck Creek Technologies announces that it has been recognized as a Leader in the 2019 Gartner “Magic Quadrant for P&C Core Insurance Platforms, North America-its fifth consecutive time expired
- GlobalData says start-up Found has the potential to reduce claims in contents insurance expired
- Greenlight Re Innovations invests in US digital MGU Coterie-its tenth investment expired
- FCA appoints Howard as executive director of Risk and Compliance Oversight(R&CO) expired
- Lloyd's appoints Sansom as CRO-Chief People Officer Andrews to leave expired
- Ascent Underwriting appoints Western as CUO expired
8th September 2019
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market. To ensure a long-term sustainable reinsurance market, further rate increases are needed. The hurricane season that is now upon us highlights the importance of having prices that adequately reflect the risks.
Fast-paced change creates challenges and opportunities for the industry, which is facing growing and ever-more complex risks, a wealth of data and a highly competitive market. In this environment, Swiss Re supports clients with its risk knowledge and builds on strong partnerships and technological innovation to meet the increasing need for insurance protection.
Swiss Re's ceo Reinsurance Moses Ojeisekhoba comments "The industry is changing for a variety of reasons. We are confident that, with our continued focus on the needs of our clients, the scale and diversification of our business, and our risk knowledge and R&D capabilities, we are in the right strategic position to address change proactively."
Swiss Re achieved profitable growth in its reinsurance business in the first half of 2019, underpinned by a strong increase in P&C treaty premium volume and price quality improvement across a broad-based portfolio. The natural catastrophe business has been one of the main drivers of P&C growth for Swiss Re this year. Large transactions, where Swiss Re combines its expertise and reliable balance sheet to meet client-specific capital management needs, have been another growth area.
Edouard Schmid, Chairman Swiss Re Institute and Group cuo, added "The recent experience of hardening rates in reinsurance mainly reflects the response to higher loss occurrences and adverse trends in natural catastrophe markets and other affected segments. Our deep knowledge, experience and diversification make Swiss Re a strong partner for our clients in underwriting natural catastrophe risks while generating attractive returns on capital."
Swiss Re Trends(708 articles)