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reinsurance

Zurich commits to avoid 5 mln metric tons of CO2 emissions annually

1 min read

The FINANCIAL — Zurich Insurance Group, the leading insurer on the Dow Jones Sustainability Index (DJSI), is to become the first large institutional investor to prioritize the ‘impact’ rather than monetary amount of its impact investment portfolio. Zurich will focus on its targets of avoiding 5 million metric tons of CO2 equivalent emissions annually – the amount emitted in a year by one million cars – and improving each year the lives of 5 million people – comparable to the population of Ireland. As of the end of September, the portfolio helped avoid 2.9 million tons of CO2 equivalent emissions and…

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Zurich commits to avoid 5 mln metric tons of CO2 emissions annually

1 min read

The FINANCIAL — Zurich Insurance Group, the leading insurer on the Dow Jones Sustainability Index (DJSI), is to become the first large institutional investor to prioritize the ‘impact’ rather than monetary amount of its impact investment portfolio. Zurich will focus on its targets of avoiding 5 million metric tons of CO2 equivalent emissions annually –…

Global insurance markets set to rebound with China leading recovery

3 mins read

The FINANCIAL — World gross domestic product (GDP) is expected to contract by 4.1% this year in what is so far the deepest recession of our lifetimes. The latest sigma study, “Rebuilding better: global economic and insurance market outlook 2021/22“, predicts that recovery will be slow and uneven in 2021. Global GDP is forecast to…

Munich Re with solid profit for the quarter, considering high losses

4 mins read

The FINANCIAL — Munich Re published Quarterly Statement. Munich Re generated a profit of around €1bn in the first three quarters of 2020 – despite COVID-19-related losses of €2.3bn In Q3, profits amounted to €199m (COVID-19-related losses in Q3: approx. €800m) Substantial increase in premium income: growth continues ERGO posts good results again In reinsurance, the…

Swiss Re delivers a strong underlying business performance and maintains its industry-leading capital strength

5 mins read

The FINANCIAL — Swiss Re reported a Group net loss for the first nine months of 2020 that narrowed to USD 691 million from USD 1.1 billion reported for the first half of the year when the Group made significant additions to its COVID-19 loss reserves. This result reflects a strong performance in the third…

Swiss Re joins The Trinity Challenge

2 mins read

The FINANCIAL — Swiss Re is joining The Trinity Challenge, a global coalition that aims to better predict and prevent outbreaks, epidemics and pandemics by harnessing the power of data and analytics. Swiss Re has integrated COVID-19 related health, economic and social data in one unique platform: the Risk Resilience Center. As a contribution in…

Munich Re’s coronavirus-related losses in reinsurance totaled €800m

1 min read

The FINANCIAL — In the third quarter, Munich Re registered COVID-19-related losses totalling about €800m in reinsurance. The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business. As a result of high losses from natural disasters – particularly several severe hurricanes…

Munich Re expects further hardening of markets

2 mins read

The FINANCIAL — Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability of reinsurers. Insurance covers are therefore likely to become more expensive, particularly for…