Global insured losses from natural catastrophes are on trend to hit USD 145 billion in 2025, continuing a steady 5%–7% annual growth trend seen in recent years, according to reinsurance giant Swiss Re.In their latest sigma report, Swiss Re noted that insured losses totaled USD 137 billion in 2024, with the increase largely driven by … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s Geely has sold its majority stake in Denmark’s €1.6bn Saxo Bank to Swiss private bank J Safra Sarasin, ending an eight-year joint venture that bet on Chinese capital markets opening up to the west. … Read more
Over the course of 2024 there were a number of recoveries made under catastrophe bonds, however these were primarily driven by cat losses that occurred in prior years, in particular both hurricane’s Ian and Otis, according to Swiss Re Capital Markets, the investment banking and insurance-linked securities (ILS) division of reinsurance giant Swiss Re.In a … Read more
Re/insurance broking giant Aon has announced the launch of a new parametric insurance solution that is designed to address and mitigate losses from hurricane-related storm surge along the coast of the United States, developed in partnership with Floodbase, a specialist in parametric flood risk, and global commercial insurer, Swiss Re Corporate Solutions.A key aspect of … Read more
The Insurance Development Forum (IDF) has named Ivo Menzinger of Swiss Re as the new Chair of its Operating Committee (OpCo), succeeding Rowan Douglas CBE, CEO of Climate Risk & Resilience at Howden who had been instrumental in the creation of the IDF and chaired the OpCo since its launch.Ivo Menzinger is the Managing Director … Read more