Business activities
Re/insurance strategy and priorities
Strategy and priorities
SRI SE Zurich branch conducts re/insurance business and is committed to delivering long-term profitability and economic growth. It offers customised, innovative and multi-line, multi-year risk transfer solutions, taking into account the unique needs of local markets and specialty industries.
Outlook
In 2018, the commercial insurance market was impacted by large natural-catastrophe events and an exceptionally high severity and frequency of large man-made losses in industrial business lines across all geographies. While rates and terms and conditions have improved, commercial risks, particularly in the large corporate segment, remain inadequately priced and the industry continues to be unprofitable overall. Corporate Solutions expects an accelerated market hardening and a reinforced focus on terms and conditions over the next 12 to 18 months.
Investments
Strategy and priorities
Financial investments are managed in accordance with Swiss Re’s asset management policy and SRI SE Zurich branch’s investment guidelines, which are intended to ensure compliance with regulatory requirements. The general principle governing investment management in SRI SE Zurich branch is the creation of economic value on the basis of returns relative to the liability benchmark, while adhering to the investment guidelines and the general prudence principle. The liability benchmark is determined by approximating an investable benchmark from projected liability cash flows. A cash benchmark is used for the economic surplus.
Outlook
In terms of the investment outlook for 2019, government bond yields are expected to rise from current levels. In particular, the Eurozone growth is set to stay solid and growth improvement is expected in the US, which is supported by expected improvements in US corporate earnings from the tax reform legislation.
Re/insurance and holding company
SRI SE Zurich branch, domiciled in Zurich, Switzerland, is a re/insurance entity within the Swiss Re Group. SRI SE Zurich branch is part of Swiss Re International SE, Luxembourg.
Claims on and obligations towards affiliated companies
| Download |
|
CHF thousands |
Parent companies 2017 |
Other Group companies 2017 |
Parent companies 2018 |
Other Group companies 2018 |
|
Premiums and other receivables from re/insurance |
32 004 |
196 |
3 868 |
202 |
|
Other receivables |
–12 |
37 143 |
–28 |
41 036 |
|
Re/insurance balances payable |
50 752 |
48 |
39 203 |
–5 169 |
|
Other liabilities |
43 883 |
1 026 |
39 060 |
4 575 |
Report of the statutory auditors
PricewaterhouseCoopers Ltd is the auditor of SRI SE Zurich branch. For more information, please see the Report of the statutory auditor.