Swiss Re

Swiss Re’s recent underwriting actions, model updates and risk repricing have prepared it to take on more secondary perils, according to its top team.

Continuing a trend of several years, secondary perils caused most insured losses at $81bn, or 73% of the total.

Katie McGrath replaces Ivan Gonzalez who has been appointed CEO reinsurance China and China country president.

Basil Louvrais and Avni Scerbo will set up the North America trade finance team.

The Hartford’s customers will have access to Swiss Re’s globally standardised property wordings and online platform.

The Buenos Aires, Argentina-based InsurTech will use the fresh funds to finance growth initiatives across the continent.

The transaction will expand the carrier’s reach in the US A&H market.

The Mayfield Consumer Products candle factory is one of the two most high profile large individual risk losses from the quad state tornado to date.

Hurricane Ida was the main loss-making event, but once again secondary perils generated more than half of global losses, according to the latest Sigma report.

The reinsurer and the tech firm will collaborate on driverless vehicle products.

Flood coverage is one area where the insurance industry can close protection gaps, but carriers and agents need to increase their efforts to educate clients about this peril, Swiss Re’s US P&C president told this publication.

The insurance marketplace aims to bridge the gap between insurance and capital markets.