2010: Swiss Re raises the bar

Swiss Re looks back on a year of special achievements and recognition for its innovative products and ethical practices.

From our overall business standards to our underwriting solution Magnum, leading reinsurance and insurance industry magazines shined the spotlight on Swiss Re during 2010. 

Leading think tank Ethisphere declared Swiss Re one of the “World’s Most Ethical Companies” in May. Using a framework that measured compliance program effectiveness, innovation, governance and corporate citizenship, Ethisphere recognized Swiss Re as one of the companies “that truly go beyond making statements about doing business ‘ethically’ and translate those words into action.”

In June, Swiss Re won three “Awards of Excellence” from the Insurance Marketing and Communications Association (IMCA), recognizing our internal corporate communications platform, Ourspace, and our corporate image advertising campaigns.

Swiss Re Capital Market’s (SRCM) Successor X deal attracted the attention of Environmental Finance magazine that same month. The UK-based monthly named the bond deal “Catastrophe Risk Management Deal of the Year.” The award highlights the use of capital market knowledge in addressing environmental problems. The Successor X Cat Bond program was the first time a cat bond was utilized in the newly developed PERILS index for European windstorm losses.

Swiss Re Capital Markets continued on its successful track in July with Trading Risk magazine’s “Transaction of the Year “award. Trading Risk acknowledged the Capital Markets team’s hard work on the Parkton Re deal, the first cat bond to enable a state’s residual market pool to manage its hurricane risks using the capital markets.

September’s Rendez Vous de Monte Carlo was especially fruitful. During the event, Swiss Re won four awards from Intelligent Insurer Magazine’s reader survey: Global Best Reinsurer, Global Best Property Reinsurer, Global Best Special Lines Reinsurer and Global Best ILS Advisor.

Stating that the November 2009 Vita Capital IV Ltd transaction was the catalyst for the growth of innovative non-catastrophe deals developed in the insurance-linked securities sector, Life&Pension Risk magazine awarded Swiss Re the “Reinsurance Mortality Risk Transfer Award” in October 2010. The Vita Capital deal was the first bond issue to transfer extreme mortality risk to the capital markets.

Also in October, Swiss Re won the “Asia Life Reinsurer of the Year” award, given at the 14th annual Asia Insurance Industry Awards ceremony in Bali, Indonesia. Keeping clients as our top priority helped us win the honor for the third year in a row.

The key Swiss insurance trade magazine Schweizer Versicherung capped our winning year by awarding Swiss Re’s Magnum second place in its Innovation Award. Jury member Peter Duschinger stated that the most attractive part of our automated underwriting system is that “client portfolios can be analysed in great detail, which allows for continuous improvement in the underwriting process.

“More importantly,” he continued, “I believe consumers will be the ones who will benefit the most through lower premiums.”

Published 20 December 2010

2014 sigma event: containing the...

Average insurance losses from natural and man-made catastrophes were lower in 2013 than in previous years. But floods and storms in Europe and Asia showed us the heavy toll that disasters can take on...

Read the whole story

sigma 3 / 2014

This annual edition of sigma reviews growth developments in life and non-life insurance in 2013.

Read the whole story