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Cyclone Debbie will affect regional reinsurance pricing-Swiss Re CFO
May 4, 2017 / 9:18 AM / 7 months ago

Cyclone Debbie will affect regional reinsurance pricing-Swiss Re CFO

ZURICH, May 4 (Reuters) - An estimated $1.3 billion insurance industry price tag from Australia’s Cyclone Debbie will “certainly” impact regional reinsurance pricing even if it doesn’t make waves across the globe, Swiss Re’s finance chief told Reuters.

“Debbie in itself may not have an impact that is so significant that it will have broad-reaching influence on global pricing,” David Cole said in an interview following the group’s first-quarter results on Thursday. “It certainly will have an influence on pricing in the affected market.”

The group remains interested in acquisitions, especially in its corporate solutions and life capital businesses, he said, but is unlikely to announce any major purchases soon.

“You would expect a company such as Swiss Re -- which maintains a strong market position, has access to a lot of insights and capital flexibility -- to continuously scan the market, and we keep our eyes and ears open for opportunities,” he said. “But I would not particularly use the word ‘active’ and suggest some sort of imminent announcement.” (Reporting by Brenna Hughes Neghaiwi and Paul Arnold, Editing by Michael Shields)

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