07 Feb 12

Zurich - Understanding profitability in life insurance

While life insurers have a good value proposition for their policyholders, they lack an easy and understandable way to explain to other stakeholders how they create value and earn profits. Swiss Re’s latest sigma study, “Understanding profitability in life insurance”, discusses the need to arrive at a standard framework for communicating the value and performance of life insurance companies.

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25 Jan 12

New York - Fed forecasts should help calm markets in 2012

After today’s decision by the Federal Reserve to maintain the target fed funds rate at zero to 25 basis points, Swiss Re’s Chief Economist, Kurt Karl, commented: “Weak economic activity, moderating inflation and fiscal tightening will keep the Fed on hold through mid-2013, perhaps longer.”

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19 Jan 12

Zurich - Swiss Re's BoD appoints Michel M. Liès as new Group CEO

Swiss Re's Board of Directors appoints Michel M. Liès, currently Chairman Global Partnerships at Swiss Re, as new Group Chief Executive Officer as of 1 February 2012. Michel M. Liès succeeds Stefan Lippe.

The Board of Directors also announces that Moses Ojeisekhoba will join Swiss Re as CEO Reinsurance Asia and Regional President Asia, effective 15 March 2012. Martyn Parker, currently CEO Reinsurance Asia, will return to Europe.

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17 Jan 12

Zurich - Report reveals low earthquake insurance penetration globally

Much of the world is still vastly underinsured against earthquake risk, study finds
Underinsurance often due to low risk awareness in earthquake-prone areas
Earthquake models should consider secondary-loss factors more comprehensively

According to Swiss Re’s latest expertise publication “Lessons from recent major earthquakes”, several big earthquakes resulted in a devastating number of fatalities and injuries and have caused widespread property damage over the past two years. The cumulative catastrophic impact of earthquakes on society is overwhelming. Seismic events caused economic losses of over USD 276 billion in 2010 – 2011, yet highly earthquake-prone countries remain underinsured.

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11 Jan 12

London - Economic and social turmoil risk reversing the gains of globalization

The world’s vulnerability to further economic shocks and social upheaval risk undermining the progress that globalization has brought, warns the World Economic Forum in its Global Risks 2012 report, the seventh edition, published today.

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28 Dec 11

New York - Swiss Re acts as joint book runner on the Vecta I transaction

Swiss Re Capital Markets has participated in the successful placement of CAD 120 million of notes issued by Vecta I Ltd. (“Vecta”), marking the first securitization of Canadian life insurance embedded value. The transaction is sponsored by Aurigen Reinsurance Ltd. ("ARL") and covers a portfolio of policies reinsured by ARL prior to 31 December, 2010.

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20 Dec 11

Zurich - Insurance growth drivers and profitability in emerging markets

Strong growth in emerging markets so far, driven by a favourable economic and regulatory environment
Promising outlook though profitability poses a challenge

Insurance in emerging markets has experienced strong growth over the past decade and the outlook for the next decade remains promising. Nonetheless, given the expectation of persistent low interest rates at least in the near future, achieving profitable growth will become increasingly challenging in emerging markets.

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15 Dec 11

Zurich - Preliminary NatCat estimates for 2011

2011 will be the year with the highest catastrophe-related economic losses in history, at USD 350 billion
2011 would have been the costliest year ever for the insurance industry if Japan had been more fully insured

According to preliminary estimates from Swiss Re’s sigma team, total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached USD 108 billion in 2011. This is more than double the figure of USD 48 billion in 2010. Claims from natural catastrophes alone reached USD 103 billion in 2011, compared to only USD 43 billion last year.

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13 Dec 11

New York - Fed will consider QE3 in early 2012, predicts Swiss Re Chief Economist

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12 Dec 11

Zurich - Swiss Re's Chief Executive Officer Stefan Lippe to retire in 2012

Swiss Re's Board of Directors announces that Stefan Lippe has decided to step down as Chief Executive Officer of Swiss Re in the course of 2012. A successor is planned to be appointed soon.

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News Releases

Zurich - Understanding profitability in life insurance

New York - Fed forecasts should help calm markets in 2012

Zurich - Swiss Re's BoD appoints Michel M. Liès as new Group CEO

Zurich - Report reveals low earthquake insurance penetration globally

London - Economic and social turmoil risk reversing the gains of globalization

New York - Swiss Re acts as joint book runner on the Vecta I transaction

Zurich - Insurance growth drivers and profitability in emerging markets

Zurich - Preliminary NatCat estimates for 2011

New York - Fed will consider QE3 in early 2012, predicts Swiss Re Chief Economist

Zurich - Swiss Re's Chief Executive Officer Stefan Lippe to retire in 2012

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