“We have a strong reputation in innovative re/insurance and risk management solutions. We provide wholesale re/insurance products, insurance-based capital market instruments, and supplementary risk management services to Property & Casualty and Life & Health clients and brokers around the globe.”
See Swiss Re, About Our Business.
Creating Sustainability Solutions
“We apply our core competencies to develop innovative solutions that help address particular sustainability issues. Currently, our efforts are focused on two areas: extending insurance cover in emerging markets and adapting to climate change.
“Insufficient insurance cover is a major challenge for emerging markets and a persistent development obstacle. Over the last few years, we have developed a range of products that improve insurance protection against key risks such as earthquakes, windstorms and droughts. Striking up partnerships with governments and public-sector organisations has been a vital component of these efforts.
“In the fight against climate change, efficient adaptation measures are gaining in importance. We are a leader in insurance-linked securities (ILS), which can provide additional cover against windstorms and other peak risks by tapping capital markets funds. Our Economics of Climate Adaptation study, recently developed with several partner organisations, provides an easy-to-use toolbox for governments to assess the cost-effectiveness of various adaptation measures.”
See Swiss Re, Sustainability Solutions.
Art and Architecture at Swiss Re
“Our engagement in the areas of art and architecture has a long tradition and is firmly embedded in our corporate culture. Superior architecture and art are an expression of stringent quality, continuity and sustainability demands. They substantiate the Swiss Re brand and the company’s ability to take on the challenges of the future in an open, competent, confident and socially responsible manner.”
See Swiss Re, Art and Architecture.
Making Societies More Resilient to Large Risks:
“At a time of increasing resource constraints, governments are faced with an ever broader array of risks ranging from natural catastrophes, such as earthquakes and hurricanes, to pandemics and terrorism. Adapting to climate change is another major challenge for most countries, particularly in the developing world. The recent earthquakes in Haiti and Chile were tragic reminders of the enormous strain that one single disaster can put on a government and a whole nation. But they also poignantly revealed how a country’s level of preparedness and management of risk can make all the difference when a disaster strikes.”
“The stakes are high and the risks are rising. An estimated 3.4 billion people worldwide are already threatened by natural hazards, and insured losses from natural catastrophes have jumped from an average $5.1 billion per year in the period 1970-89 to $27 billion annually over the last two decades. By 2030, increasing climate risks could cost countries up to 19 percent of their total gross domestic product, according to the report “Shaping Climate-Resilient Development”, published in 2009 by the Economics of Climate Adaptation (ECA) project.”
“The global insurance and reinsurance industry is a natural ally to governments seeking to secure financing before a disaster occurs. Such partnerships have already produced a number of innovative transactions. Among them are weather index solutions in Africa and India, catastrophe bonds in Mexico, and parametric natural catastrophe covers for Caribbean nations including Haiti. Insurance solutions such as the 2009 Mexico MultiCat Program, designed to provide funding for immediate disaster relief, have substantial potential for being replicated elsewhere because they can readily be adapted to the specific risk exposure of other regions.
“But since one approach clearly does not fit all countries, meeting the challenges of a changing risk landscape requires constant innovation. The combined resources and expertise held by public and private institutions have much to contribute toward this endeavour.”
See Swiss Re, Making Societies More Resilient to Large Risks.
Discussing the UN Climate Summit – Durban:
“Swiss Re is active in shaping the global climate agenda through research and dialogue with key stakeholders. In Durban, Swiss Re joined the annual UN climate summit for the third year in a row as an official member of the Swiss government delegation.”
“As in previous years, the Swiss country delegation was particularly interested in tapping into Swiss Re’s risk management expertise and our work on the economics of climate adaptation. The empirical facts that we brought to the negotiating table strengthened Switzerland’s position and contributed key elements to the conference work programme on loss and damage. It was adopted by the negotiating parties in Durban to identify the most effective ways to assess and manage climate-related risks. More specifically, it will explore “the links and synergies between risk reduction and other instruments such as risk transfer”.
“Swiss Re has been a strong advocate of cuts in greenhouse gas emissions for over twenty years. But since we know that our climate will continue to change, we invest a great deal of research in low-carbon strategies and adaptation measures. The Durban agreement seeks concrete action on both of these fronts while reconfirming the mechanisms of the Kyoto Protocol until a more stringent policy regime comes into force. With our global offerings on renewable energy and risk transfer for adaptation, Swiss Re is already at the forefront of providing innovative climate solutions. Many of our existing transactions involve key partnerships with the public sector and can be redeployed in different regions of the world. So we are well positioned to play a major role in driving forward the low-carbon economy and shaping climate-resilient development today and in the future.”
See Swiss Re, Discussing Durban: Why It Matters.