As the global re/insurance sector convenes in Monte Carlo for the annual Rendez-Vous de Septembre, Swiss Re has outlined the central topics expected to shape this year’s renewal negotiations.
The company said that it is focusing on how ongoing global change and uncertainty are influencing the re/insurance market, creating volatility, and challenging risk assessment. The growing role of artificial intelligence (AI) is also a key point of discussion.
Urs Baertschi (pictured above), CEO of P&C reinsurance at Swiss Re, said the industry continues to serve as a stabilizing force amid global uncertainty and the rapid adoption of AI.
“We look forward to engaging with our clients, partners and the public sector on how to further strengthen resilience, harness technology and address the evolving challenges of a changing world,” Baertschi said.
Geopolitical tensions, protectionist measures, and shifting economic conditions are affecting global supply chains, raising costs, and increasing uncertainty. These factors have heightened the risk of long-term fragmentation. Swiss Re has observed a rise in strikes, riots, and civil unrest, with over 70 countries experiencing significant protests in the past year.
The company stressed the need for a comprehensive approach to risk, emphasizing accumulation management and disciplined underwriting as essential tools for navigating the current geopolitical landscape.
The industry is also contending with the growing impact of natural catastrophes. The Swiss Re Institute reports that a combination of economic growth, claims inflation, and more severe weather events has driven annual insured natural catastrophe losses above US$100 billion in recent years.
For 2025, Swiss Re predicts that insured natural catastrophe losses could reach $145 billion, underscoring the increasing impact of climate change and the need for improved risk management and public awareness.
AI is emerging as a transformative force for re/insurance, with capabilities that now exceed initial expectations. The ability to process and learn from unstructured information – such as emails, submissions, contracts, and claims files – has become a competitive necessity.
Gianfranco Lot, chief underwriting officer P&C Reinsurance, said, “In the face of increasing risks, data will become even more important. It’s the basis for risk and accumulation management, and AI will be a game changer.”
He noted that Swiss Re is committed to combining expertise, technology, and partnerships to help realize these ambitions.
Swiss Re also recently revised its outlook for global economic growth, citing the visible impact of tariffs and early signs of a weakening US labor market.
In its latest forecast, the company projects global insurance premiums to grow by 2% in 2025, with non-life premiums expected to slow from 4.7% in 2024 to 2.6% in 2025. The firm noted that while US real GDP expanded by 3% in the second quarter, the pace is expected to slow in the latter half of the year, reflecting broader economic headwinds.
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