Beyond capacity: What gives insurers the confidence to grow?

1. You’ve worked with insurers across very different markets around the world. What have those experiences taught you that you’re bringing to your new role in Asia?

One thing I've learned from my experience is how to make sense of unfamiliar situations more quickly. Risks and market conditions are constantly changing, and I've learned to recognise patterns, get to the heart of an issue faster.

Another important lesson is that we don't always have to start from scratch. Having worked across markets at different stages of development, I've seen what has worked, what hasn't and why. The judgement lies in knowing which lessons we can build on and how to adapt them to local circumstances.

Working across different markets has also taught me to stay curious, open-minded and humble. Over the past six months, visiting markets and meeting clients across Asia has reinforced just how distinct each market is. They all have their own priorities and challenges, and people rightly want those differences to be recognised and understood.

2. As you look across Asia today, where do you see the greatest opportunities for Swiss Re to make a difference for clients?

I think it's important to recognise that the risks our clients face are taking on new dimensions. Climate volatility, geopolitical uncertainty, technological change and growing interdependencies are creating layers of complexity. But it's not just about entirely new risks.

As exposures grow, values become more concentrated and events compound, the consequences of familiar risks can become much harder to anticipate.

The floods across Southeast Asia late last year illustrate the cumulative impact of successive events. Arriving just 5–15 days apart, the storms resulted in at least USD 11 billion in economic losses, despite relatively low average exposure in several affected areas.

Data centres are another example of growing risk concentration. Today's AI data centres are much larger and more capital intensive than traditional facilities, concentrating enormous value in a single location. With multiple tenants and insured interests sharing the same site, a single event could trigger multiple claims and substantial losses.

This is where I see a real opportunity for Swiss Re. We can combine our understanding of risk, local market knowledge and different forms of risk transfer to help clients navigate these changes. It is not about any single product or capability. It's about understanding the client's business and bringing together the right expertise to address their challenges.

3. When an insurer in Asia sees an opportunity to grow, what does it take to turn that ambition into reality?

When a client outlines their ambitions to us, the first two things I want to understand are what they're trying to achieve and what might stand in their way.

Every client has different needs, so the right response might involve capacity, deeper risk insights, innovative solutions or a combination of these.

For example, when a fast-growing insurer in the region wanted to expand its motor portfolio, it faced uncertainty around future capital requirements as business volumes increased. The client needed flexibility to manage those pressures without relying on additional capital injections at short notice.

We designed a flexible quota share arrangement that allowed the client to adjust how much risk it transferred to Swiss Re at agreed intervals, depending on its growth and capital needs.

This ability to adjust risk transfer as the business evolved gave the client greater confidence to pursue growth while maintaining capital flexibility.

For other insurers, growth may require innovation to address emerging protection needs. Renewable energy is a good example. The sector could generate around USD 111 billion in cumulative commercial insurance premiums by 2030, but it also brings risks that require new approaches to protection.

In Malaysia, Swiss Re partnered with Etiqa to develop Solar Energy Shortfall Insurance, a parametric solution that protects solar operators against revenue shortfalls caused by insufficient sunlight. This enabled Etiqa to introduce a new insurance offering for a growing market, while giving solar investors greater confidence to invest.

4. Insurers are often being asked to cover new and evolving risks where historical loss experience may not provide all the answers. So what can our broader experience still teach us, and how can we see further?

When a risk is new, we may not have the historical loss data we'd normally rely on. But that doesn't mean we're starting from zero. Experience is about much more than claims data. At Swiss Re, it's the knowledge and judgement we've built over 160 years of underwriting, risk engineering and managing losses. That helps us recognise what's familiar, understand what's different and ask the right questions.

Take data centres, which we touched on earlier. We may not have decades of loss experience with today's AI data centres, but many of the underlying risks, such as construction risks, fire, equipment breakdown and business interruption, are familiar. We can build on what we already know while developing a better understanding of how these risks interact as facilities grow in scale and complexity.

Our global experience also helps us see further. Data centre development is more advanced in the US, where we've gained experience assessing and managing accumulation risks. We can draw on those lessons to help clients in Asia anticipate potential exposures, rather than waiting for similar risks to become significant.

Looking ahead, new data, AI and analytical capabilities offer opportunities to build on that experience, connect information in new ways and deepen our understanding of emerging risks.

5. What would make your first SIRC a successful one?

For me, what makes SIRC special is that it brings together people from across the region and across the industry. It's a rare opportunity to hear firsthand what matters most to our clients and where they see the industry heading.

I'm looking forward to welcoming clients and brokers to our Swiss Re Dialogue Hub, whether it's for a scheduled meeting or simply a coffee and a conversation.

If I leave SIRC with a deeper understanding of our clients' ambitions and challenges, and some new ideas about how we can support them, I'd consider that a success.