Reinsurer ‘put in place hedges’ as the pandemic began to unfold, to ‘partially mitigate the economic impacts’.
"The group has devolved a proprietary pandemic model to assess scenarios and enable active monitoring.” Swiss Re chief financial officer John Dacey.
· L&H has exposure in billions, says group CFO
· Corporate Solutions and P&C Re could also see large 2020 cancellation costs
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· More impact may be seen in reinsurer's primary businesses revenues
Swiss Re says it has prepared well for the hit the COVID 19 pandemic is expected to bring as it outlines a number of ‘hedges’ to mitigate the worst.
Swiss Re, Coronavirus, Insurance, Reinsurance, Property & Casualty, Life & Health, Economy, John Dacey, Global