As the world economy steadily recovers from the COVID-19 pandemic, Swiss Re forecasts that global insurance premiums will reach a never-before-seen U.S.$7 trillion by the end of 2022. According to the global reinsurer’s recent World Insurance Sigma report, the pandemic…
The insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently. “When we’re looking at recent events, including the 2020…
Canada could see heightened hurricane risk in the future, as climate change and fluctuations in ocean temperature are increasing the likelihood of stronger hurricanes making landfall further north, according to Swiss Re. “We see an increased likelihood of intense hurricanes…
Monica Ningen, President, CEO, Swiss Re Canada and the English Caribbean Women at all stages of their careers in the insurance industry continue to face barriers such as higher performance standards, harsher judgement for mistakes than their male counterparts, and…
Karen Gavan, Swiss Re board of directors and former president, CEO of Economical Insurance To reach a leadership position in the Canadian property and casualty insurance industry, women leadership hopefuls need to develop and hone their financial literacy skills, the…
Agis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,…
There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national…
Canada’s costliest-ever hailstorm contributed to the largest insured losses in North America since the first half of 2011, according to preliminary natural catastrophe estimates from Swiss Re. The hailstorm that struck Calgary in June cost the industry $1.2 billion based…
The impact of low interest rates on insurer profitability is something that warrants more discussion, suggests a senior executive with one of the world’s largest reinsurers. “This is something that significantly impacts the profitability of the insurance and reinsurance industry,…
The gap between those who are insured against catastrophes and those who aren’t is still noticeably wide, particularly as storms are supposed to get worse. Monica Ningen, president and CEO of Swiss Re Canada and English Caribbean, describes what can be done.
If P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,…
The global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In…