Swiss Re

Pockets in the business are still experiencing significant stress, she added.

The company is currently “underweight” in that line of business, he added.

The reinsurer constructed a “social inflation index” for a new study.

The firm bolstered US liability reserves by $650mn in the H1 2024.

The insurance sector’s RoE is expected to exceed 10% next year.

Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.

Commercial lines will remain bifurcated, with strong growth in property and weak growth in liability.

The US tallies $97bn in economic losses from major perils each year.

Effective immediately, Wolfe will help drive growth strategies across the region. He will also lead Guy Carpenter’s US facultative business alongside Frank Guerriero, chairman of Guy Carpenter Facultative.

The downgrade was driven by a change in the Swiss Insurance Supervision Act, which came into effect 1 January and is unrelated to the rating fundamentals of Swiss Re, according to the agency.

Darly Polenz will be working with Russ McGuire, head of origination, with a focus on accelerating BMS Re’s growth strategy with balance sheet businesses.

Separately, sources said Swiss Re Miami-based head of auto overseeing the motor portfolio for the LatAm region Carlos Ricci has also left the reinsurer.