Swiss Re’s non-life insurance portfolio swells as result of acquisition

Swiss Re’s non-life insurance portfolio has grown by 14% as a result of renewals of business acquired through the purchase of Insurance Solutions. The increase works out to CHF1.3 billion [approximately CDN$1.215 billion].The January renewal season accounts for 67% of the traditional treaty portfolio of Swiss Re and the former Insurance Solutions. Across the combined portfolio total premium volume grew to CHF10.3 billion [approximately CDN$9.63 billion].The American renewal was dominated by strong demand for catastrophe capacity, a Swiss Re release says.Overall premiums in the Americas grew to CHF2.3 billion [approximately CDN$2.15 billion], an increase of 36%.Overall Swiss Re retained 70% of Insurance Solutions non-life treaty business in the January renewals.”Market conditions remain very favourable,” Michel Lis, head of client markets at Swiss Re, said in a statement.”Swiss Re enjoys a leading position in this attractive environment with a focus on delivering economic profits, targeting better-than-average pricing and terms and conditions.”