Swiss Re
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The collaboration is the latest signal of big tech’s growing interest in the insurance sector.
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The appointments come as the carrier continues to reshape its portfolio as part of ongoing remediation efforts.
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Losses from severe convective storms in the US were the highest since the first half of 2011.
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Non-life lines have fared better than life products and premium volumes may fully recover in 2021.
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The ratings agency has changed its view amid the carrier’s worse-than-expected earnings and high combined ratio.
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Swiss Re and Munich Re are both on risk for the $800mn Tokyo Olympics contingency policy.
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The move is one of several management changes under new CEO Andrade.
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The veteran investment banker will join the board in April and become chairman when Walter Kielholz retires next year. -
Analyst Philip Kett says he’s “more constructive” on the Corporate Solutions outlook.
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Swiss Re became the latest to disclose significant losses in its US insurance unit, citing higher-than-expected severity trends and a challenging tort environment.
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The troubled commercial specialty unit reports strong renewals price growth but a $647mn full-year loss.
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The executive joins from AGCS where she led the North American financial lines team.
