A hardening market is a tough thing to pass up, so in February, Maritime Program Group of Manchester, N.H., launched an exclusive Motor Truck Cargo program with North American Specialty Insurance Co., a subsidiary of SwissRe, as an expansion of its nationwide business, says David C. Morrill, Inland Marine program...
Despite the challenges posed by a year of extraordinary catastrophes, Swiss Re says its 2011 net income increased by more than $1.7 billion thanks in part to a reserve release of $1.3 billion.
Youve probably been looking skyward over the past few weeks wondering about more than just the weather with a U.S. satellite falling to earth recently and the Germans saying one of their satellites will fall next month.
Investors continue to show faith in the insurance-linked securities market despite a series of catastrophe losses that caused interruption in growth of the catastrophe bond market this year, industry analysts say.
Two years after reporting a dismal $663 million net loss, Swiss Re appears to have rebounded, paying off a $2.6 billion loan instrument and still recording a 74 percent increase in net income for 2010.
In 2009, natural catastrophes claimed 9,000 lives worldwide and cost insurers $22 billion, even though the year was considered to be a low-loss year compared with previous years.
Insurers have a potentially vast new marketplace for innovative insurance solutions for the poor that can reach up to four billion people with potential premium of up to $40 billion, according to a report from Swiss Re.
Although economists generally do not expect sharp increases in inflation, insurers should develop plans to consider how they will respond if inflation surges.
A report on how risk transfer can aid developing nations in accessing finances when a natural disaster strikes was released by Swiss Re to help kick off "Climate Week NY?C."