Global Conference 2012

GLOCO is an annual gathering of our global clients with their Swiss Re Client Executives and a selection of our C-Suite. It's a unique event as we attract global clients from all over the world at the CGD in Rüschlikon.

Thierry Léger opened up the sessions explaining more about the theme of the event ‘Weathering the Storm’. The agenda featured some great internal speakers and Peter Sohre and Rejean Besner set the scene for the volatility driver presentations that followed.

Volatility drivers - Introduction

Download the presentation (PDF 1.53 MB)


Navigating Financial Markets (Stormy weather as the ‘New normal’) - Guido Fürer

Guido Fürer delivered a fascinating presentation on Navigating Financial Markets. It’s difficult in uncertain macro and market environments to make a good return. Volatile financial markets are the new normal and the old rules don't apply. The biggest volatility factor is interest rates; low current rates have negatively impacted the insurance industry. Guido explained that focused, disciplined and dedicated investment management is key in such an environment.

Download the presentation (PDF 1.33 MB)

Uncertainties in catastrophe models - Andreas Schraft

Most attendees believed that cat models had failed us. Andreas agreed concluding that all models are wrong but they remain very useful tools for the industry and should not be dismissed. 30% of all nat cat losses are caused by non-modelled perils and Andreas focused on one such event, the 2011 Thailand floods. He warned the audience that solar storms could be a significant factor in 2013 with the potential to cause as much damage as a big earthquake.

Download the presentation (PDF 1.27 MB)

Future of Casualty - Jayne Plunkett and Theo Bachmann

Jayne explained that we are trying to deliver a casualty predictive model (LRD) to replicate the nat cat models. Swiss Re has developed a single-risk model and the next step is to model the portfolio risk. Clients are trying to work on similar things but struggling with prioritising long-tail risk. Jayne acknowledged that this is the hardest part; there is a need to figure out the prioritisation and the interaction between those risks. It's an area where the industry can improve and already there was great collaboration with clients on this topic.

Download the presentation (PDF 1.37 MB)

Funding longer lives - Daniel Ryan, Mike Eves

In the event that re/insurers get their mortality/longevity assumptions wrong it can get very expensive. So there are many models around but no single model is superior (as Andreas said earlier all models are wrong).

But the important thing is to manage the risk, set limits and aim to reduce problems for the next generation of employees and shareholders.

We could be on the edge of a revolution according to Daniel as there have been unprecedented developments in, for example, the field of genome sequencing. It could be crucial for re/insurer knowledge of their policyholders but the potential impact is dependent on individuals adopting the new developments.

Download the presentation (PDF 1.62 MB)

Breakout topics

Four breakout topics followed in the afternoon:

Photo Gallery

Global Conference 2012

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