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Swiss Re

Global insurance markets set to rebound with China leading recovery

7 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 grow by 4.7% in 2021 in real terms, below the market expectation of 5.2% growth. In this context, the sigma study finds that, amid the economic shock inflicted by COVID-19, global insurance markets have been less severely impacted than expected in the Swiss Re Institute…

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Global insurance markets set to rebound with China leading recovery

7 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

10 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

11 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

5 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…

Swiss Re and Daimler announce partnership and launch new company Movinx

4 mins read

The FINANCIAL — Swiss Re and Daimler Insurance Services have entered into a strategic partnership for automotive and mobility insurance and launched a new company called Movinx. Both shareholders of the 50/50 joint venture will leverage their complementary expertise to establish a new business model. The aim is to develop fully digital automotive and mobility…