Swiss Re
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ILS risk-sharing should stick to peak risks, the reinsurer argued. -
Insured losses in 2021 alone hit $20bn.
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The executive will work to help corporations understand and mitigate the threats posed by climate change.
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Performance is expected to recover in H2 due to rising rates, the broker-dealer forecast.
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If Hurricane Andrew were to hit the coastal regions of Florida today, insured losses would be nearly four times the $15.5bn borne by carriers 30 years ago.
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Swiss Re’s advisory firm aims to offer investment management services to third-party investors.
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It is launching the new capability through a new SEC-registered investment advisory firm.
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Insured nat cat losses amounted to $35bn globally in H1, while manmade events triggered an additional $3bn, according to Swiss Re Insititute.
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He led on structuring an innovative $1.15bn reinsurance stop-loss transaction in April.
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The carrier’s 6% rate increases over 2022 YTD are “subsumed” by larger loss expectations, including rising inflation.
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The reinsurer absorbed large nat-cat claims of $938mn in its H1 results.
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The recruit joins from Verisk.
