This parametric insurance is China's first mobile-enabled typhoon property insurance solution; it covers eight coastal provincial regions in Southeast China that are prone to typhoon
Its straightforward and convenient interface enables purchase, inquiry and claims settlement from a mobile device
The insurance solution offers real-time tracking of typhoon paths and wind speed, and provides automated claims to users based on public data from the national meteorological center of China where the payout is made within three days
Sao Paulo - Swiss Re Corporate Solutions and Bradesco Seguros conclude transaction
Swiss Re Corporate Solutions Ltd and Bradesco Seguros S.A. have closed the transaction announced in October 2016; the joint venture has officially commenced operations in Brazil
The commercial large-risk portfolio of Bradesco Seguros S.A. has been integrated into Swiss Re Corporate Solutions Brasil Seguros S.A. (SRCSB), giving it exclusive access to Bradesco Seguros' distribution network
Swiss Re Corporate Solutions Ltd retains a 60% stake in SRCSB, Bradesco Seguros holds a 40% equity stake
This transaction creates one of the leading large-risk insurers in Brazil and enables innovative products to be delivered through an established distribution network
New York - Swiss Re Capital Markets Arranges USD $125M Cat Bond for FMTAC
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 125 million of insurance-linked securities by MetroCat Re on behalf of the First Mutual Transportation Assurance Company ("FMTAC"), a New York State licensed and domiciled captive insurance company and subsidiary of the Metropolitan Transportation Authority ("MTA"). The transaction is MTA's second catastrophe bond and covers storm surge resulting from named storms and earthquakes in the New York City metropolitan area.
New York - Swiss Re Capital Markets arranges USD $925M Cat Bond for CEA
Swiss Re Capital Markets has successfully structured and placed the issuance of USD 925 million of insurance-linked securities by Ursa Re Ltd., to be used for the protection of the California Earthquake Authority ("CEA"). The transaction is one of the largest indemnity, annual aggregate catastrophe bonds and covers California earthquakes. With this deal the CEA is well prepared to handle the economic consequences of potential earthquakes.
Singapore - Swiss Re creates combined Property & Casualty Underwriting Hub
Swiss Re today announced that it is establishing a combined Property & Casualty (P&C) Underwriting Hub for the Asia Pacific region within its Reinsurance business unit. Sharon Ooi, will lead the unit, as Head P&C Underwriting for Asia, Australia & New Zealand.
Zurich - Swiss Re informs about the format and scope of its financial reporting
As previously announced with the 2016 annual results in February 2017, Swiss Re will adjust the format and scope of its financial reporting for the first and third quarters to promote a longer-term view of its performance. For these quarters, Swiss Re Ltd will report concise information on key financial data and business developments in news releases.
Singapore - Swiss Re strengthens its commitment to Asia
Swiss Re today announced plans to further strengthen its commitment to Asia by establishing a dedicated regional legal entity in Singapore for its Reinsurance business unit. This legal entity will, at the same time, become Swiss Re's regional headquarters for its network of reinsurance operations in Asia.
Zurich - Swiss Re and SAP Co-Innovate for Financial Reporting
Swiss Re, a leading global re/insurer, today announced a strategic co-innovation initiative with SAP SE, market leader in enterprise application software. Working together, the two companies plan to develop a solution to address the increasingly complex demands related to financial steering and reporting of insurance companies from regulators across the globe.
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