Commercial insurance market facing new challenges as economies evolve Swiss Re, one of the world’s leading reinsurance groups, has released a new report concerning the state of the commercial insurance market and the challenges it is beginning to face. The report highlights the changes an evolving global economy are having on the commercial insurance market, suggesting that this evolution is producing new risks that could harm the market if proper precautions are not taken. Despite these risks, however, the commercial insurance market is showing aggressive growth, especially in under-developed countries.…
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Insurance news from Swiss Re shows need for longevity risk coverage
The reinsurer points out a new market solution requirement in the industry. According to Swiss Re’s latest insurance news announcement, the capacity of insurers is not great enough to cover approximately $23 trillion of the pension liabilities around the world against the risk that policyholders will be living longer than originally anticipated. They recommend that the risk of longevity should be passed through to the investors. This insurance news was made in the second largest global reinsurer’s recent report. In this document, they pointed out that for every additional year…
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