Swiss Re CEO Christian Mumenthaler
The whole P&C value chain is not earning its cost of capital, says Swiss Re CEO Christian Mumenthaler, who explains to Intelligent Insurer how, despite this, Swiss Re is well positioned to navigate the challenging environment.
“What is quite clear is that the whole P&C value chain is not earning its cost of capital. That’s true on average for the primary companies and reinsurers.
“Brokers are under pressure too. The whole value chain has a problem in the current soft market and it is similar to soft markets in the past. It is maybe not as bad as in 1999, but at that time the sector benefited from higher investment returns. But overall, it’s a similar situation.”
That is how Christian Mumenthaler, the chief executive of Swiss Re, sums up just some of the challenges facing reinsurers right now.
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