Swiss Re boss Christian Mumenthaler “The damage has increased tenfold” | EUROtoday
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View of the streets of Ahrweiler, the place mountains of rubble could be seen after the flood in summer time 2021
Image: Lucas Bäuml
Natural disasters trigger ever larger hurt. How can the world defend itself? Christian Mumenthaler, head of reinsurer Swiss Re, has solutions.
Mr. Mumenthaler, final yr there have been pure disasters with report losses. At the identical time, you produced top-of-the-line outcomes of your profession. With the cash from us, the insurance coverage clients.
It's not that straightforward. For instance, we had zero rates of interest for years, which is a catastrophe for insurers. That has now modified, this issue accounts for at the least a billion {dollars} in our earnings. The costs for reinsurance have additionally modified in our favor. They now higher mirror the underlying dangers than earlier than, after absorbing excessive losses from inflation, Covid-19 and pure catastrophes in recent times.
https://www.faz.net/aktuell/finanzen/swiss-re-chef-christian-mumenthaler-die-schaeden-haben-sich-verzehnfacht-19605739.html