In Good Company

As global shocks rise, Swiss Re has a shield

The giant reinsurance firm aims to increase its share of the business in Asia, a region now in the good hands of Russell Higginbotham

Covid-19 has raised awareness of insurance as never before, says Swiss Re’s CEO Reinsurance for Asia Russell Higginbotham. And as Asians show more appetite for insurance cover, it is no surprise that markets in the region are swift-moving with rapi
Covid-19 has raised awareness of insurance as never before, says Swiss Re’s CEO Reinsurance for Asia Russell Higginbotham. And as Asians show more appetite for insurance cover, it is no surprise that markets in the region are swift-moving with rapid innovation being the norm. ST PHOTO: ALPHONSUS CHERN

It is not often that you look at a company that has just announced losses of nearly US$900 million (S$1.2 billion) for the year past and think that it probably is doing the job it is meant to do. Swiss Re, the giant reinsurance firm, has done just that, sliding from a profit of US$727 million the year before.

The Zurich-based company, with a history that goes back to 1863, is a breed of insurer that provides backup cover for primary insurers, a shock absorber, so to speak, in a world where shocks are increasingly commonplace.

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