Keep pulling the thread on Andreas Berger.
In Q3 2023, Swiss Re observed an unexplained spike in mortality claims from the United States specifically among middle-aged people, a trend not seen in other OECD countries.
The global reinsurance market is highly concentrated, with the top three firms holding approximately 31% market share, the top five holding 46%, and the top ten holding roughly 70%.
Swiss Re has over $100 billion in assets under management.
Swiss Re was a founding pioneer of the insurance-linked securities (ILS) market and currently has approximately $50 billion in notional value of these securities in the market.
The Norwegian Sovereign Wealth Fund owns 1.6% of Swiss Re, an investment valued at 800 million US dollars.
At Swiss Re, the capital return for natural catastrophe risk is 8% on a standalone basis but increases to 40% at the group level due to diversification benefits.
Andreas Berger, CEO of Swiss Re, believes that population growth and asset accumulation in high-risk areas is the primary driver of increasing natural catastrophe losses, more so than climate change.
According to Swiss Re's analysis, every dollar spent on disaster mitigation saves an estimated ten dollars in post-event rebuilding costs.
The CEO of Swiss Re asserts that the primary challenge for insuring properties in high-risk areas like California is affordability, not fundamental insurability, which can be addressed through loss prevention measures.
Swiss Re's Corporate Solutions unit previously suffered from over-concentration in the US liability market, with over 50% of its total business and 90% of its liability business located in the United States.
In the specialized market for international insurance programs for large corporations, Swiss Re faces only eight to ten major competitors.
Swiss Re operates the world's leading life and health reinsurance business, supported by its proprietary medical underwriting guide called Lifeguide.