Swiss Re
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The tariffs could expose insurers to the risk of recession and shrinking income. -
This follows the firm’s exit from primary aviation.
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Katie McGrath is appointed CorSo CUO amid a restructure of the unit.
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The executive has been with the firm for 27 years.
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It estimated insured losses from nat cats on track to exceed $135bn in 2024.
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This year’s top-line growth will be a decade high.
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The market grew at a rate of 32% annually from 2017 to 2022.
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The carrier’s Q3 net income will be around $100mn, far below consensus.
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Pockets in the business are still experiencing significant stress, she added.
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The company is currently “underweight” in that line of business, he added.
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The reinsurer constructed a “social inflation index” for a new study.
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The firm bolstered US liability reserves by $650mn in the H1 2024.
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