Swiss Re
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The executive replaces Emmanuel Thommen, who has announced his retirement.
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The deal will exclude Covid-19 from its current year coverage.
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The revelation came with the release of the institute's 2021 Resilience Index.
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It will be the insurance company’s first foray into the cat bond market since 2018.
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The carrier increased premium volume by 20% at 1 April as Japanese cedants lifted limits.
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The primary unit swings back to profit, while P&C re earnings expand seven-fold.
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Interest in parametric coverages has increased among insurance buyers as a response to coverage gaps exposed by unanticipated losses and tightening traditional market capacity.
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Reinsurers, corporations and states must redouble efforts towards net-zero emissions, the carrier says.
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Reinsurers still have concerns over rate adequacy as views of typhoon risk evolve.
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The reinsurer finds secondary perils accounted for over 70% of natural catastrophe claims.
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The reinsurer accelerates its retreat as part of a new set of targets to achieve net-zero emissions by 2050.
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Tighter cat bond spreads will prevail until issuance catches up with investor demand, the firm forecast.