Swiss Re on Bloomberg TV: Insuring climate change

Swiss Re’s senior climate advisor Andreas Spiegel talks to Bloomberg TV about the risks and opportunities of climate change from the perspective of the insurance industry. Speaking at the United Nations Climate Summit in Copenhagen, Spiegel stressed the importance of adaptation, alongside mitigation, as a means of ensuring that assets remain insurable in the long-term.

Spiegel said that weather-related losses were rising. “They amount to 40 billion USD at the moment,” he said. “Weather-related insured losses are rising and the intensity of weather-related events such as hurricanes is going up as well. We are integrating these risks in our pricing.”

For Swiss Re, the current situation presents a true business opportunity since climate and weather-related risks are a core part of our business. “More and more, we see this as a business opportunity as adaptation to climate change is about managing risks in the long term. And that is our business,” said Spiegel.

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