Swiss Re is a leading global provider of reinsurance, insurance, and other risk transfer solutions. In the space industry, Swiss Re primarily acts as an insurer, offering coverage for satellites, rockets, and unmanned spaceflights, including third-party liability insurance. The company also partners with organizations like ICEYE to enhance natural catastrophe services through satellite-based monitoring. However, Swiss Re has pulled back from writing some space risks due to "bad results of recent years and unsustainable premium rates".
All verified mentions of this organization in source documents.
Swiss Re estimated that climate- and weather-related catastrophes caused $318 billion in global losses in 2024, with only 43% of those losses insured.
Iceye began working with insurance industry partners in 2021, including Zurich-based Swiss Re and Tokyo-based Tokio Marine.
Swiss Re announced on 2019-07-31 that it will no longer underwrite space policies.
Swiss Re planned to cut roughly $900,000,000 in exposure across multiple sectors, including space, aviation, agriculture, and healthcare.
Swiss Re had taken actions to significantly reduce its General Aviation & Space exposure as of 2019-07-31.
Swiss Re generated $953,000,000 in revenue for the first half of the year, down $53,000,000 compared to the first six months of 2018.