Swiss Re reports $762m loss at Corporate Solutions and $1bn capital injection

Swiss Re reports $762m loss at Corporate Solutions and $1bn capital injection

Swiss Re reports $762m loss at Corporate Solutions and $1bn capital injection

Swiss Re has reported a loss of $468m for the first nine months of this year including a $762m loss at its Corporate Solutions business, which has needed a $1bn capital injection. Swiss Re said the capital injection underlines its commitment to Corporate Solutions and believes rate increases are on the way for both primary insurance and reinsurance buyers. Swiss…

Swiss international healthcare plan from Allianz Worldwide Care

Swiss international healthcare plan from Allianz Worldwide Care

Swiss international healthcare plan from Allianz Worldwide Care

Allianz Worldwide Care has launched a range of expat health insurance plans for groups and individuals in Switzerland, in partnership with local health insurance provider KPT and Allianz Global Assistance, combining local and international expertise in terms of access to medical networks, claims management and helpline services. The Suisse International Healthcare Plan, which offers a ‘one-stop-shop’ for expat insurance in…

Cyber, economic transformation and credit top agenda in Switzerland

Cyber, economic transformation and credit top agenda in Switzerland

Cyber, economic transformation and credit top agenda in Switzerland

During a roundtable for this year’s European Risk Frontiers survey, Sabrina Hartusch, risk manager for international lingerie firm Triumph and current president of Swiss risk management association Sirm, named cyber as the first of the big three risks currently facing business. But cyber is not the only big risk front of mind for Swiss corporate executives and risk managers. Global…

Time management and knowledge key to success for risk managers

Time management and knowledge key to success for risk managers

Time management and knowledge key to success for risk managers

The rapid pace of the modern economy means that risk managers need to be knowledgeable, flexible and agile to stay ahead of the game. Risk managers can no longer sit at their desks and rely on tried and tested systems and processes to help their organisations cope with whatever the market throws at them. Tight cost control is critical in…

Longer-term agreements way ahead for Swiss risk managers

Longer-term agreements way ahead for Swiss risk managers

Longer-term agreements way ahead for Swiss risk managers

Swiss risk managers agree with their colleagues across Europe that long-term agreements are the way ahead for their insurance programmes but, not surprisingly, encounter resistance from their insurers. “The longest that we have managed is two years. This year we got property damage and business interruption for one more year and tried for longer. All the insurers say that they…

Cyber risk demands enterprise-wide approach

Cyber risk demands enterprise-wide approach

Cyber risk demands enterprise-wide approach

The Swiss risk managers who joined this year’s European Risk Frontiers survey discussion agree with most of their European peers that cyber risk cannot be neatly packaged into an insurance product and forgotten about. The risk is so fundamental and enterprise-wide that it has to be identified, measured and managed before insurance is even considered. Stefan Haemmerli, risk manager for…

Let market forces do their job on cyber: HDI Global

Let market forces do their job on cyber: HDI Global

Let market forces do their job on cyber: HDI Global

Stephan Roth, head of financial lines at European Risk Frontiers survey sponsor HDI Global in Switzerland,  admits that the cyber insurance market is not perfect and  needs to evolve further. But he said that government intervention is not needed. Cyber risk is still too often jealously guarded by the IT department when it clearly demands an enterprise-wide approach and the…

Cyber: Clearly a board level topic

Cyber: Clearly a board level topic

Cyber: Clearly a board level topic

VZ Insurance Services is the Swiss member of the Worldwide Broker Network (WBN), sponsor of this year’s European Risk Frontiers survey. We spoke to Oliver Hedinger, the firm’s managing director, and Marco Meili, senior expert cyber and special lines, for their views on the fast-evolving cyber risk landscape and insurance market. CRE: Who do you feel should be responsible for…

London remains top global financial centre despite Brexit negotiations

London remains top global financial centre despite Brexit negotiations

London remains top global financial centre despite Brexit negotiations

London remains the leading global financial centre according to the latest Global Financial Centres Index (GFCI), published by Z/Yen in collaboration with the China Development Institute. The GFCI rates 92 financial centres and found that London and New York remain in first and second places. According to Z/Yen, despite the ongoing Brexit negotiations, London only fell two points, the smallest…

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