Swiss Re
-
The P&C Re CEO discussed Swiss Re’s P&C appetite and nat cat exposure in the investor presentation. -
Swiss Re Alternative Capital Partners assets under management hit $3.3bn as of 30 September.
-
Swiss Re says economic growth slowdown and elevated geopolitical uncertainty dampen the outlook for the primary insurance industry.
-
The carrier reported a Q3 combined ratio of 138.8% for casualty within the P&C re unit.
-
The reinsurer said hardening of property reinsurance conditions must continue.
-
The pricing settled at 925 basis points, which is towards the lower end of the initial guidance of 900-975 basis points.
-
Competition at the upper layers of reinsurance towers could lead to the creation of ‘riskier’ cat bonds, said Swiss Re Capital Markets.
-
AM Best said market hardening was likely to continue through 2024, given global market conditions.
-
The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season.
-
Loss estimates from Aon, Gallagher Re, Swiss Re and Munich Re all point to a significant component of severe convective storm losses.
-
A total of 10 events caused more than $1bn in losses each.
-
CFO John Dacey said the carrier remains underweight in Florida due to concerns around underlying economics.
