The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic inflation, according to Swiss Re. The pace of claims growth in the liability line of business challenges the insurability of …
A former Swiss Re underwriter has been awarded nearly 1.3 million pounds ($1.6 million) by a London employment tribunal for sexual discrimination and unfair dismissal. Julia Sommer joined Zurich-based Swiss Re in 2017 as a political risk underwriter in London …
Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time, according to Swiss Re Group, as climate change …
LONDON —Insured losses stemming from natural catastrophes rose to $50 billion in the first half of 2023, the second highest reading since 2011, reinsurer Swiss Re said on Wednesday. Severe thunderstorms accounted for 70% of total insured losses, while the …
LONDON, March 29 (Reuters) – A former Swiss Re underwriter, who last year won a sex and maternity discrimination and unfair dismissal case, is seeking 5.1 million pounds ($6.3 million) in compensation and told a London court she wants to …
Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …
This past year has seen a horrific flood that submerged one-third of Pakistan, one of the three costliest U.S. hurricanes on record, devastating droughts in Europe and China, a drought-triggered famine in Africa and deadly heat waves all over. Yet …
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost insurers an estimated $115 billion so far this year, according to a report published by Swiss Re …
Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from hurricane Ian, and signaled that renewal prices would jump next year. The Zurich-based reinsurer’s key unit saw $2.5 billion in claims related to …
Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …