Swiss Re announces net income of USD 4.2 billion for full-year 2012; a regular dividend of CHF 3.50 per share and an additional special dividend of CHF 4.00 per share to be proposed

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

Over 60% worry about rising retirement healthcare expenses in five key markets in Asia- Swiss Re

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.

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Total healthcare costs in India are projected to increase by 12.3% annually to USD214 billion by 2020 Swiss Re Study

David Alexander Director Head of Business Development, Asia  Swiss ReThe 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

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

International News: Swiss Re reports very strong net income of USD 2.2 billion for third quarter of 2012, driven by Property & Casualty Reinsurance and Admin Re® US sale

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

International Insurance News: Swiss Re appoints 2 members to group executive committee

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

Commercial insurance is leaning towards high-growth markets

Swiss Re’s latest sigma 5/2012, “Insuring ever-evolving commercial risks,” provides new insights into commercial insurance, revealing that demand varies greatly based on industry, company size and jurisdiction. Commercial insurance helps companies to manage risks and find new ways to innovate, grow and stabilise their earnings. It accounted for some USD 600 billion in premiums in 2010, or about 41% of global non-life business. Read more