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India’s national reinsurer General Insurance Corporation (GIC Re) is considering acquiring a Lloyds Syndicate member as a stepping stone to meet its ambition of being among the top five reinsurers globally.
Swiss Re has delivered a net income of USD 4.2 billion for 2012. The result was driven by very strong profitability in Property and Casualty Reinsurance and an excellent investment result. Swiss Re’s Board of Directors will propose a regular dividend of CHF 3.50 per share and, in addition, a special dividend of CHF 4.00 per share, amounting to a total return of capital to shareholders of approximately USD 2.8 billion. Read more
According to the Swiss Re study “Global re/insurance review 2012 and outlook 2013/14”, life insurance premiums in emerging Asia will rebound in 2013, growing by about 10% in real terms. Read more
According to Swiss Re sigma preliminary estimates, total insured losses from natural catastrophes and man-made disasters will reach approximately USD 65 billion in 2012. Natural catastrophes alone will lead to over 11 000 lives lost and roughly USD 60 billion in insured claims. Read more
The world’s ageing population continues to expand, as scientific and medical advancement enables people to live longer. This presents enormous challenges for government and society, as well as the insurance industry.
Swiss Re recently announced that it will engage in long-term financing of infrastructure businesses and assets. For this purpose it has committed an initial $500 million for investments in senior secured debt of infrastructure businesses and assets located primarily in northern Europe. Read more
The Health Protection Gap in the Asia-Pacific region could reachUSD197 billion in 2020, according to Swiss Re’s latest study, entitled Health Protection Gap: Asia-Pacific 2012. This study is the first of its kind whichpresents and compares the Health Protection Gap across 13 markets in the Asia-Pacific region: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, the Philippines, Singapore, South Korea, Thailand, Taiwan and Vietnam. Read more
Swiss Re estimates its claims burden from Hurricane Sandy at around USD 900 million, net of retrocession and before tax. This estimate is subject to a higher than usual degree of uncertainty and may need to be subsequently adjusted.
Hurricane Sandy, which made landfall in the US on 29 October 2012, caused high winds and storm surge, resulting in extensive flooding and loss of life and property. Before it hit the US, Hurricane Sandy affected the Caribbean and The Bahamas. Read more
Swiss Re reports a net income of USD 2.2 billion in the third quarter of 2012 (vs. USD 1.3 billion in the prior-year period) and a return on equity of 28%, driven by continued strong performance from P&C Reinsurance and a one-off gain from the sale of the Admin Re® US business. Growth in premiums and net income at the Corporate Solutions Business Unit are in-line with targets. Swiss Re remains well-placed to achieve its five-year financial targets and to support clients in a volatile environment. Read more
Swiss Re’s Board of Directors announces that Guido Fürer, currently head chief investment office, is appointed as group chief investment officer of Swiss Re and member of the group executive committee, from 1 November 2012.
He succeeds David Blumer who has decided to leave the company. Additionally, John R Dacey, Swiss Re’s head group strategy & strategic investments, is named as a new member of the group executive committee from 1 November 2012. In addition, John R Dacey will also become Chairman of Swiss Re’s Admin Re business. Read more