Munich Re for the second-straight year holds the top spot in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2021, followed once again by Swiss Re. The two global reinsurers together account for 24.3% of top 50 reinsurance gross premiums written in 2021. Total reinsurance gross premiums written by the top … Read more
Cowbell Cyber Inc. said Thursday it has partnered with Swiss Re to provide cyber coverage and risk monitoring for businesses with up to $750 million in revenue that are using Amazon Web Services. The coverage, which is tailored to small and medium-sized businesses running in cloud environments, offers up to $5 million in available limits. … Read more
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance and Hannover Re. A summary of these new hires follows here. BHSI Enters Commercial Hull in Australasia, Hiring Hesson From QBE Berkshire Hathaway Specialty Insurance (BHSI) announced it is expanding into the commercial hull segment in Australasia and has named Jake Hesson, … Read more
A federal appeals court Thursday affirmed a lower court ruling against a Swiss Re unit in a dispute involving a home improvement retailer’s rejection of a settlement offer that led to a $6 million jury verdict. A customer of Eau Claire, Wisconsin-based Menard Inc., a home improvement chain, filed a negligence suit against the retailer … Read more
Swiss Reinsurance Co. Ltd. on Thursday said it has launched an investment advisory company and wholly owned subsidiary, Swiss Re Insurance-Linked Investment Advisors Corp., to focus on insurance-linked securities including catastrophe bonds. Registered with the U.S. Securities and Exchange Commission as an investment adviser, the new unit will offer investment management services to qualified institutional … Read more
Natural catastrophes in the first half of 2022 caused an estimated $35 billion in insured losses, 22% above the average over the past 10 years, according to a report Tuesday from Swiss Reinsurance Co. Ltd. The costliest natural catastrophe for the insurance industry in the first half of 2022 was flooding in Australia, which caused … Read more
A series of winter storms in Europe, record floods in Australia and South Africa as well as a high number of thunderstorms in the U.S. and Europe resulted in US$35 billion of insured losses from natural catastrophes in the first half of 2022, according to Swiss Re Institute’s preliminary estimates. Man-made events triggered an additional … Read more
This edition of International People Moves details appointments from three insurers: Berkshire Hathaway Specialty Insurance (BHSI), AXA XL and Swiss Re Corporate Solutions. A summary of these new hires follows here. BHSI Enters Swiss Market, Names Metzger as Country Manager Berkshire Hathaway Specialty Insurance (BHSI) announced it has opened a new office in Zurich, Switzerland, … Read more
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New You can now listen to Insurance Journal articles! Swiss Re’s economists predict “inflationary recessions” hitting major world economies over the next 12-18 months, and while recessions spell less insurance demand and inflation means higher claim costs, inflation will also drive a continued hard market, they say. The forecasts are set out in Swiss Re’s … Read more