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Swiss Re


News CatastrophesInsurance

Natural disaster recovery: Who owns the risk?

January 31, 2018 by David Gambrill

Canadians are not fully aware of their exposure to natural catastrophe risks, triggering a conversation at the C4 2018 conference in Ottawa about who is responsible for shouldering the heavy load of mounting disaster recovery costs. Organized by Catastrophe Indices

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Guess how much a magnitude-5.8 earthquake in eastern Canada could cost insurers?

January 15, 2018 Peter Rakobowchuk - THE CANADIAN PRESS

MONTREAL – While people in British Columbia are mindful of the fact they could eventually face some of the strongest earthquakes in the world, at least one study warns there’s a lack of awareness of the risk in Eastern Canada.

News ClaimsInsuranceMarkets / Coverages

Eastern Canadian earthquake risk a “huge opportunity” for industry

December 21, 2017 Greg Meckbach, Associate Editor

Complacency about real risks, such as an earthquake affecting Eastern Canada, present a “huge opportunity” for insurance providers to educate consumers, a former Economical Insurance CEO said Monday. “Human beings really don’t like thinking about the bad things that could

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Economic losses top US$300 billion in 2017

December 20, 2017 by Canadian Underwriter

Insured losses from natural catastrophes in 2017, at more than US$130 billion, were more than double the average of the previous 10 years, and more than US$90 billion in losses is probably from three hurricanes alone, Swiss Re said Wednesday.

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Hurricanes, earthquakes contribute to Group 9M net loss of US$468 million for Swiss Re

November 3, 2017 by Canadian Underwriter

Swiss Re has reported a Group net loss of US$468 million for the first nine months of 2017, reflecting the US$3.6 billion expected insurance claims from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. Property & Casualty Reinsurance’s and

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Swiss Re estimates losses from recent hurricanes, Mexico earthquakes at US$3.6 billion

October 20, 2017 by Canadian Underwriter

Swiss Re has estimated its preliminary combined losses from Hurricanes Harvey, Irma and Maria and the earthquakes in Mexico to be approximately US$3.6 billion, net of retrocession and before tax. Of the total combined losses, claims from the two earthquakes

News CatastrophesClaimsInsuranceMarkets / Coverages

Wildfire situation in California remains volatile: AIR Worldwide

October 17, 2017 by Canadian Underwriter

While residents of Mendocino County have been allowed to return home after deadly wildfires destroyed property in California, AIR Worldwide is warning the situation “remains extremely volatile” in the region. As winds moderated on Sunday, “firefighters were able to make

News CatastrophesClaimsInsuranceMarkets / Coverages

Spurt of vegetation growth contributes to California wildfires: Munich Re

October 12, 2017 by Canadian Underwriter

With deadly wildfires destroying more than 3,500 properties north of San Francisco, Munich Re is warning that “prime wildfire conditions” may continue in California this winter. “Over the past decade, the United States has seen an uptick in the frequency

News InsuranceMarkets / CoveragesProducts

Product innovation extending the reach of commercial insurance: Swiss Re sigma study

October 11, 2017 by Canadian Underwriter

Product development and innovation around data and data analytics has expanded the scope of insurance solutions to a wider range of threats and perils, and made risk transfer more efficient, Swiss Re said in its latest sigma study. Released on

News ClaimsInsuranceReinsuranceTechnology

Willis Re supports B3i blockchain insurance industry initiative

October 2, 2017 by Canadian Underwriter

Willis Re is supporting the B3i initiative – the global blockchain effort launched last fall – by becoming a member and taking part in its prototype market testing phase. The announcement follows the successful launch of a working market testing

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

A.M. Best has ‘significant concerns’ about global reinsurance industry after 2016 accident year combined ratio tops 100%

September 5, 2017 by Canadian Underwriter

The global reinsurance market is “far from thriving” and while the Lloyd’s market “maintains an excellent business profile,” its accident year combined ratio in reinsurance exceeded 100, A.M. Best Company Inc. said in a report released Tuesday. Each September, Oldwick,

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide

August 21, 2017 by Canadian Underwriter

If Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on