Swiss Re

CFO John Dacey also urged primary carriers to be “realistic” on rising extreme-weather costs.

The carrier said July flooding in Europe and South African unrest would bring losses in the mid-triple-digit million range for Q3.

The executive replaces Emmanuel Thommen, who has announced his retirement.

The deal will exclude Covid-19 from its current year coverage.

The revelation came with the release of the institute's 2021 Resilience Index.

It will be the insurance company’s first foray into the cat bond market since 2018.

The carrier increased premium volume by 20% at 1 April as Japanese cedants lifted limits.

The primary unit swings back to profit, while P&C re earnings expand seven-fold.

Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.

Reinsurers, corporations and states must redouble efforts towards net-zero emissions, the carrier says.

Reinsurers still have concerns over rate adequacy as views of typhoon risk evolve.

The reinsurer finds secondary perils accounted for over 70% of natural catastrophe claims.