Swiss Re
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CUO Schmid noted that its catastrophe growth came after it reduced its market share in 2018. -
The reinsurer said its nat-cat exposure is at the highest level since 2015, with support from third-party capital.
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The US remains the largest insurance market, accounting for $1.5tn of global life and non-life premiums.
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The executive is to move from the equivalent role in the EMEA region as the current Asia chief moves to AIA.
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A paper by academics at Hamburg University compared the results of the Swiss Re global cat bond indices against indices from various other sectors.
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Swiss Re has increased the capacity of its Sector Re sidecar to $670mn, despite a tightening of the wider retro market.
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The reinsurer has expanded its retro sidecar by more than a quarter from the previously estimated size of $531mn.
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The executive said placing one of the first Singaporean cat bonds had gone smoothly.
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The reinsurer’s Corporate Solutions division posted a $55mn loss for the period.
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The reinsurer’s P&C unit fell to an underwriting loss for 2018 after $2bn of catastrophe losses.
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The insurer pinpoints that aggregate transactions and structures exposed to perils with less robust catastrophe models will be most affected.
