| // 27-08-2010 |
Climate change could significantly increase the risk of hurricanes and storms in the Caribbean and threaten future development in the region, concludes a new study released by the Caribbean Catastrophe Risk Insurance Facility (CCRIF). Damage from wind, storm surge and inland flooding already amounts to 6% of GDP per year in some countries, according to the study’s preliminary results. Under a high climate change scenario, annual expected losses could rise by another 1 to 3% of GDP by 2030.
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| // 20-08-2010 |
Swiss Re is a leading and highly diversified global reinsurer. The company operates through offices in more than 20 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company’s traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated “A+“ by Standard & Poor’s, “A1” by Moody’s and “A” by A.M. Best.
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| // 09-08-2010 |
CFO George Quinn on our performance in Q2 2010
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| // 09-08-2010 |
Swiss Re reported strong net income of USD 812 million for the second quarter of 2010 despite a challenging market environment. Book value per common share increased by 9% to CHF 78.44.
Stefan Lippe, Swiss Re’s Chief Executive Officer, said: “Swiss Re’s business performed well in the second quarter of 2010. Our underlying earnings power continues to be strong and we benefited this quarter from an excellent result in Asset Management. This proves our ability to generate sustainable earnings in a challenging market environment.”
Stefan Lippe added: “For the past two years, we have positioned our (re)insurance portfolio for the softening market. The July 2010 renewals demonstrate that we are continuing to focus on disciplined cycle management – with profitability as the clear priority.”
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| // 25-06-2010 |
Swiss Re's Investors' Day conference provides insights into the company’s Asset Management function and the Swiss Solvency Test framework. The Group today also gives an update on its estimated claims from the earthquake in Chile.
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| // 14-06-2010 |
Swiss Re's Investors' Day conference today provides insights into the company’s Asset Management function and the Swiss Solvency Test framework. The Group today also gives an update on its estimated claims from the earthquake in Chile.
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| // 24-05-2010 |
University of St. Gallen’s Schmeiser discusses Solvency II, risk management
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| // 08-05-2010 |
Swiss Re reported net income of USD 158 million for the first quarter of 2010. The company continued to deliver strong underlying performance, even though the Property & Casualty result was affected by high natural catastrophe losses in the first quarter. The estimated excess capital position at the AA level increased to more than USD 12 billion.
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| // 03-05-2010 |
At Swiss Re’s Annual General Meeting in Zurich today, the company’s shareholders approved all proposals put forward by the Board of Directors. Walter B. Kielholz and Robert A. Scott were re-elected to the Board. Furthermore, the shareholders elected Malcolm D. Knight, Carlos E. Represas and Jean-Pierre Roth as new non-executive, independent members of the Board.
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| // 19-03-2010 |
A project to maintain drinking and irrigation water supplies and to conserve upper watershed forests in the Santa Cruz valleys in Bolivia has won Swiss Re’s International ReSource Award 2010. The project will capitalise five municipal water funds and will at the same time help to improve livelihoods in the region.
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| // 18-03-2010 |
As part of its long-term commitment to corporate responsibility in India, Swiss Re has partnered with an international nonprofit organisation, GeoHazards International (GHI), and a New Delhi-based nonprofit organisation, GeoHazards Society (GHS), to launch a multi-year campaign to improve hospital earthquake safety in India.
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| // 13-03-2010 |
Swiss Re announced that, based on current information, it provisionally estimates its loss arising from the earthquake in Chile to be USD 500 million. The total insured losses for the insurance sector for the earthquake in Chile are estimated to be in the range of USD 4.0 billion to USD 7.0 billion. In addition, Swiss Re estimates its loss for the European winter storm Xynthia to be approximately USD 100 million.
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| // 12-03-2010 |
Swiss Re reported net income of CHF 506 million for the full year 2009. Earnings per share were CHF 1.49. The estimated excess capital at AA level increased to more than CHF 9 billion. During 2009, Swiss Re’s core business continued to demonstrate strong earnings power, while the company significantly de-risked and strengthened its balance sheet.
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| // 19-02-2010 |
Swiss Re announced today the closing of a US individual life retrocession transaction with Berkshire Hathaway. The transaction builds on Swiss Re’s tradition of portfolio steering and reinsurance risk transformation and will improve its capital efficiency.
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| // 19-02-2010 |
Swiss Re reported net income of CHF 506 million for the full year 2009. Earnings per share were CHF 1.49. The estimated excess capital at AA level increased to more than CHF 9 billion. During 2009, Swiss Re’s core business continued to demonstrate strong earnings power, while the company significantly de-risked and strengthened its balance sheet.
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| // 05-02-2010 |
Further information
Presentation slides and financial statements will be published here at approx. 7 am (Zurich time) on 18 February 2010.
Alternatively, the meeting can be followed via a live web cast. The web cast link will be posted on this page on the day of the meeting.
The meeting will also be recorded and the media files can be downloaded from this page after the meeting has taken place.
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| // 29-01-2010 |
Swiss Re announced today the closing of a US individual life retrocession transaction with Berkshire Hathaway. The transaction builds on Swiss Re’s tradition of portfolio steering and reinsurance risk transformation and will improve its capital efficiency.
|
| // 19-01-2010 |
Swiss Re announced today the closing
of a US individual life retrocession transaction with Berkshire
Hathaway. The transaction builds on Swiss Re’s tradition of
portfolio steering and reinsurance risk transformation and will
improve its capital efficiency.
|
| // 11-01-2010 |
Swiss Re has obtained USD 150 million protection for California earthquake risk through the Redwood Capital XI Ltd. catastrophe bond programme.
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| // 04-01-2010 |
Swiss Re announced today that it has entered into a USD 1.0 billion long term Letter of Credit facility with JP Morgan, in order to support its US life business over the long term.
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| // 21-12-2009 |
Swiss ReˇŻs new sigma study, ˇ°Commercial liability: a challenge for businesses and their insurersˇ±, highlights the challenges of managing and insuring liability risk. The authors note that the best products and the best underwriting methodology for liability risk are no substitutes for adequate pricing. Prices should reflect escalating claims trends and the uncertainties of a rapidly changing technological and legal environment.
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| // 15-12-2009 |
London, 15 December 2009 – Swiss Re has entered into its first longevity transaction with a pension fund. With this transaction, Swiss Re will provide the UK’s Royal County of Berkshire Pension Fund (RBPF) with protection against the uncertainty associated with longevity risk on CHF 1.7 billion of pensioner liabilities.
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| // 15-12-2009 |
After todayˇŻs decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss ReˇŻs chief US Economist, Kurt Karl, commented, ˇ°The Fed reiterated that it will be on hold for an extended period, which we estimate to be until late 2010. The Fed should have no trouble in managing the ˇ®exitˇŻ strategy, assuming there is no political interference with its work.ˇ±
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| // 14-12-2009 |
Zurich/Copenhagen, 14 December 2009 – Swiss Re representatives are participating at the COP 15 negotiations in Copenhagen, representing the Swiss Insurance Association as part of the official Swiss delegation. The reinsurance company Swiss Re advocates fast transition from Copenhagen discussions to immediate implementation of climate adaptation measures, in order to reduce losses caused by climate risks.
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| // 24-11-2009 |
Swiss Re’s chief economists will provide an overview of how the (re)insurance industry has weathered the financial crisis in 2009, as well as lessons learned and the outlook for world (re)insurance in 2010 – with a special emphasis on emerging markets. Matthias Weber, Member of Swiss Re’s Executive Board and Head of Property and Specialty, will speak about various aspects of the growing natural catastrophe insurance business.
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| // 20-11-2009 |
After today’s decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss Re’s chief US Economist, Kurt Karl, commented, “There was no surprise, as expected, with the target policy rate today.”
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| // 13-11-2009 |
After today’s decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss Re’s chief US Economist, Kurt Karl, commented, “There was no surprise, as expected, with the target policy rate today.”
|
| // 09-11-2009 |
Swiss Re reported net income of CHF 334 million for the third quarter of 2009. The estimated excess capital position at the AA level increased to more than CHF 6 billion. Swiss Re’s core business continued to deliver very strong results, and the company achieved further significant progress in de-risking its Legacy portfolio.
Stefan Lippe, Swiss Re’s Chief Executive Officer, said: “During the third quarter of 2009, we continued to improve Swiss Re’s financial flexibility through a combination of strong underlying performance in our core business and continued de-risking of the Legacy activities. During the first nine months of 2009, our excess capital at the AA level improved to over CHF 6 billion. Our excess capital is substantial and allows us to support our clients when they need us most.”
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| // 03-11-2009 |
Location: Zurich
Date: 03 November 2009, 10:30 AM
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| // 02-11-2009 |
On the occasion of Swiss Re's Q3 2009 results, two separate events will take place. Please choose the event of interest from the list below in order to access all relevant information.
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| // 23-10-2009 |
Swiss Re is very well positioned to enter this year’s renewal discussions in Baden-Baden. Swiss Re will use the week ahead to emphasise its strong offering to European clients, and to reinforce the company’s focus on a sustainable underwriting relationship with cedants.
|
| // 03-10-2009 |
The winning project, submitted as part of the development proposals sponsored by Swiss Re, comes from architects Diener & Diener Architekten, Basel. Construction is expected to begin at the end of 2012 at the earliest.
|
| // 01-10-2009 |
Swiss Re today announced the launch of a Focus report titled “Betting the farm? Agricultural risks in Brazil”, which demonstrates that while Brazilian farmers are aware of the risks posed by weather and commodity prices, few have the insurance coverage that could protect them. The report discusses the reasons for low insurance penetration and proposes measures at both the farm level and the national level that will help to develop a more robust agricultural insurance framework.
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| // 22-09-2009 |
In his speech, Pierre Ozendo stressed the need for a comprehensive climate agreement to be struck in Copenhagen in December, supported by leaders from government, business and civil society organizations. Mr. Ozendo cited Swiss Re's long-standing interest in the climate debate and indicated that the insurance industry has a major role to play in helping society manage and adapt to the risks caused by climate change.
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| // 18-09-2009 |
A report from the Economics of Climate Adaptation Working Group released today indicates that climate risks could cost nations up to 19% of their GDP by 2030, with developing countries most vulnerable. The report concludes, however, that cost effective adaptation measures already exist that can prevent between 40 and 68 percent of the expected economic loss with even higher levels of prevention possible in highly target geographies.
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| // 17-09-2009 |
According to Swiss Re’s new sigma study, “The role of indices in transferring insurance risks to the capital markets”, both (re)insurers and investors benefit when clearly defined and regularly updated indices are used in insurance-linked securities (ILS) and other risk-transfer instruments. These instruments provide (re)insurers with an additional capital management tool, while investors gain access to an attractive, diversifying asset class.
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| // 06-09-2009 |
Swiss Re is intensifying its efforts to urge governments to take a more joined-up approach to managing risk. In Helsinki today, the global reinsurer will use its flagship Nordic Risk & Insurance Summit (NORIS™) conference to suggest how governments can improve the way they tackle large-scale disasters and work more closely with insurers to deal with crises quickly and cost-effectively. With winter storm risk expected to double in some parts of Scandinavia by the end of the century, Swiss Re is also aiming to raise awareness of the need to close the gap between economic and insured losses.
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| // 10-08-2009 |
In the second quarter of 2009, Swiss Re further increased its capital strength and estimates that its excess capital at the AA level has improved to CHF 4.5 billion. The Group also made significant progress in de-risking its Legacy portfolio. Solid underlying earnings in the core business were offset by mark-to-market losses on hedges and impairments. This resulted in a net loss of CHF 381 million for the quarter.
|
| // 05-08-2009 |
Swiss Reinsurance Co., the world’s second-largest reinsurer, reported an unexpected quarterly loss because of impairments on securitized products and the cost of hedging corporate bonds.
The loss was 381 million Swiss francs ($359 million) in the second quarter after net income of 564 million francs a year earlier, the Zurich-based company said in an e-mailed statement today. That missed the median estimate for a 134 million-franc profit of eight analysts surveyed by Bloomberg.
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| // 22-07-2009 |
World insurance premium volume rose slightly to USD 4270 billion in 2008. However, adjusted for inflation, premiums declined by 2%. Global life premiums fell by 3.5% in 2008, mainly driven by a sharp fall in the sale of unit-linked and single premium life insurance products in the industrialised countries. Non-life premiums decreased by 0.8%.
|
| // 17-07-2009 |
World insurance premium volume rose slightly to USD 4270 billion in 2008. However, adjusted for inflation, premiums declined by 2%. Global life premiums fell by 3.5% in 2008, mainly driven by a sharp fall in the sale of unit-linked and single premium life insurance products in the industrialised countries. Non-life premiums decreased by 0.8%.
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| // 15-06-2009 |
The FINANCIAL -- Swiss Reinsurance America Corporation has obtained USD 100 million protection against US hurricane and earthquake risks in the US from Calabash Re III Ltd., a Cayman Islands exempted company (the “issuer”), which was financed through the successful offering by the issuer of insurance-linked securities.
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| // 16-05-2009 |
Swiss Re reports a net profit of CHF 150 million for the first quarter of 2009. Property & Casualty delivered premium growth and excellent underwriting performance, while Life & Health income grew as a result of favourable mortality developments.
CEO Stefan Lippe said: “We are pleased to report that Swiss Re was able to return to profit in the first quarter of 2009. More importantly, we strengthened our capital base and made progress on our plans to reduce risk. The results show that even in this challenging economic environment Swiss Re’s earnings power in its core business remains strong.”
|
| // 13-02-2009 |
Swiss Reinsurance Co.'s new top executive faces a tough task: backing the reinsurance firm away from the risky, and loss-making, strategies of his predecessor.
|
| // 26-12-2008 |
According to initial estimates from the forthcoming Swiss Re sigma study on catastrophes, more than 238 000 people lost their lives to natural catastrophes and man-made disasters in 2008 ¨C the fourth largest number of deaths since 1970. While the total cost to society was USD 225 billion, USD 50 billion was covered by property insurance, making 2008 the second costliest year ever in terms of insured losses.
|
| // 26-12-2008 |
Swiss Re announced today that it has entered into a USD 1.5 billion long term Letter of Credit (LoC) facility with JP Morgan.
|
| // 16-12-2008 |
Swiss insurer Baloise said it will have to write down $13 million as a result of the alleged multi billion dollar fraud of U.S. hedge fund manager Bernard Madoff.
|
| // 09-12-2008 |
Swiss Re's senior economists have reviewed the turmoil in the global financial markets in 2008 and provided an outlook for the global economy and world insurance in 2009.
|
| // 01-12-2008 |
ZURICH - The world’s biggest reinsurer Swiss Re said on Monday it had cut 120 jobs, but stressed that it was not carrying out a significant restructuring amidst the financial turmoil.
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| // 26-11-2008 |
|
| // 24-11-2008 |
|
| // 13-11-2008 |
Swiss Reinsurance Company Ltd
Swiss Re is a leading and highly diversified global reinsurer. The company operates through offices in more than 25 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress.
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| // 10-11-2008 |
Swiss Re reports a net loss of CHF 304 million for the third quarter of 2008. Despite unprecedented turmoil in the global financial markets, net operating income for the first nine months of 2008 was CHF 884 million. Book value per share was CHF 74.16 at the end of September 2008. Swiss ReˇŻs balance sheet is strong, and the companyˇŻs capital adequacy remains at very high levels.
|
| // 07-08-2008 |
Swiss Re joined the ranks of European insurers and reinsurers, who have been impacted by the global financial crisis. The world's biggest reinsurer reported a 53 percent drop in second quarter net income to CHF 564 million ($536 million), compared to CHF 1.194 billion ($1.134 billion) in Q2 2007.
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