Swiss Re
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The once niche product is generating interest in a growing number of industries and sectors. -
The reinsurer’s CFO cited a 1.5% net price reduction year to date.
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Growing economic and population exposures are driving potentially larger insured losses.
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The carrier forecasts stable profits, but tariffs are creating “high uncertainty”.
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The tariffs could expose insurers to the risk of recession and shrinking income.
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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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