Swiss Re
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The reinsurer opened its cat bond portfolio to third-party investors last summer. -
The carrier achieved treaty price increases of 21% at 1.7, against increased loss assumptions of 16%.
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The $120mn bond, issued in 2021, covers mortality risk in the US, UK, Canada and Australia.
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The executive will report to reinsurance solutions CEO Russell Higginbotham.
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The global natural catastrophe protection gap stood at $368bn, with protection gaps being largest in emerging markets.
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The report outlined 17 recurring and emerging risks (re)insurers should be aware of.
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The comment comes after major US carriers pulled back from new business in wildfire-prone California.
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Mayer will manage a global centre of excellence for parametric products and report to Paul Schultz, CEO of Aon Securities.
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Christoph Oehy will replace Luzi Hitz in November 2023.
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Reinsurers are starting to see increased demand from personal lines, where valuations are being updated to match inflation.
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The CFO said cedants ‘recognise the new supply-demand reality’ as it benefitted from an early release of Hurricane Ian reserves.
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The carrier’s P&C re and CorSo units benefited from price increases at 1 April, as well as the receding impact of Ukraine.
