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The Latest Breaking News from Swiss Re

Legal fight over €2.5bn worth of aircraft stuck in Russia plays out in Dublin

World’s largest aircraft lessors and insurance firms battle over compensation for jets stranded after Ukraine invasion

The Guardian - UK

Climate crisis deepens with 2024 ‘certain’ to be hottest year on record

Average global temperature in November was 1.62C above preindustrial levels, bringing average for the year to 1.60C

The Guardian - UK

Natural Disasters Cause $310bn In Economic Losses In 2024: Swiss Re

In a year set to be declared the hottest on record, natural disasters caused $310 billion in economic losses globally in 2024, as climate change increasingly takes its toll, Swiss Re said Thursday.

International Business Times

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Hurricanes Milton and Helene set to join the ranks of most costly storms - both with damage estimates more than $50 billion

Experts in economics, insurance and risk say both hurricanes are likely to be in the pantheon of super-costly $50 billion disasters

The Independent UK

2020's Youngest Self-made Billionaire Austin Russell Shares How You Can Become One Too By 25

College dropout turned CEO Austin Russell has shared his secrets to billionaire success at 25, leveraging focus, passion and online learning.

International Business Times UK

‘Kitty cat’ storms hitting US heartland are growing threat to home insurance

Smaller secondary systems that create hailstorms and tornadoes pack a punch that is causing billions of dollars in damages

The Guardian - US

Swiss Re Warns Insured Disaster Losses Could Double In A Decade

Insured property losses could double in the coming decade due to climate change and more frequent and more intense severe weather events, reinsurance giant Swiss Re warned Tuesday.

International Business Times

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Flood survivors stress about insurance and future risks

Relief funding shortfalls and rising insurance costs are fuelling concerns from households impacted by natural disasters including floods.

AAP

Hurricane Otis to Become Costliest Insured Disaster in Mexico: Swiss Re

Global natural catastrophes will pass the $100 billion threshold for the 4th consecutive year

Latin Times

Insured Disaster Losses To Again Top $100 Bn: Swiss Re

Insured losses from natural catastrophes will pass the $100-billion threshold for the fourth year running in 2023, reinsurance giant Swiss Re said Thursday.

International Business Times

Big European insurers ‘underwrite 30% of US coal despite net zero pledges’

Lloyd’s of London, Zurich and Swiss Re among top 10 insurers of largest US coalmines, study finds

The Guardian - UK

Severe storms lead to unprecedented $34 billion in US insured losses so far this year, Swiss Re says

Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time as climate change contributes to the frequency and severity of violent meteorological events

The Independent UK

Experts agree: Climate change is a WMD

The intelligence community and the insurance industry have named global warming as a top threat

Salon

Experts Agree: Climate Change Is a Weapon of Mass Destruction

As both the intelligence community and the insurance industry name global warming as a top threat, U.S. states give aid and comfort to the enemy.

Capital & Main

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The Conversation

Republicans' anti-ESG attack may be silencing insurers, but it isn’t changing their pro-climate business decisions

Over recent months there has been an orchestrated pushback against investors and insurers who integrate the risks of climate change into their business models. That pushback – emanating from Republican-led states – is having an impact on how companies speak publicly. But whether it will affect their efforts to respond…

AFP

Natural disasters, inflation upped insurers' costs in 2022: Swiss Re

Zurich (AFP) - Natural disasters increased insurers' costs in 2022, with inflation pushing up the bill even more, reinsurer Swiss Re said Wednesday, warning of likely further rises in the future due to climate change.

The Independent UK

New abnormal: Climate disaster damage 'down' to $268 billion

This past year has seen a horrific flood that submerged one-third of Pakistan, one of the three costliest U.S. hurricanes on record, devastating droughts in Europe and China, a drought-triggered famine in Africa and deadly heat waves all over

AFP

Disasters cost $268 billion in 2022: Swiss Re

Geneva (AFP) - Natural and man-made catastrophes have caused $268 billion of economic losses so far in 2022, chiefly driven by Hurricane Ian and other extreme weather disasters, reinsurance giant Swiss Re estimated Thursday.

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Reuters

Disasters caused total of $122 billion in insured losses in 2022 - Swiss Re

Hurricane Ian and other natural catastrophes have caused an estimated $115 billion of insured losses so far this year, well above the 10-year average of $81 billion, Swiss Re estimated on Thursday.

Reuters

Dubai Aerospace, with 19 jets stuck in Russia, sues 11 insurers in London

Aircraft leasing firm Dubai Aerospace Enterprise (DAE) has filed a London lawsuit against 11 insurers, including Lloyd's of London, AIG, Chubb and Swiss Re, two months after it wrote off almost $600 million for 19 aircraft stuck in Russia.

AFP

Natural disaster losses hit $72 bn in first half 2022: Swiss Re

Zurich (AFP) - Total economic losses caused by natural disasters hit an estimated $72 billion in the first half of 2022, fuelled by storms and floods, Swiss reinsurance giant Swiss Re estimated Tuesday.

The Hindu

T-Hub, Swiss Re GBS India to collaborate

Boosting innovation in insurtech sector to be focus of their partnership

The Hindu

Swiss Re GBS, IIRM to collaborate

HYDERABAD

The Hindu

Hyderabad to host Swiss Re innovation hub facility

HYDERABAD

Reuters

Allianz, Swiss Re join other financial firms in turning from Russia

Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia.

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