Swiss Re Group CEO Michel Liès says he is unfazed by the price-sensitive reinsurance market and insists there are still opportunities to grow.

“In my 35 years of experience in the business, I’ve seen many turns of the reinsurance cycle and have learned pricing is only one dimension of it,” he said.

Mr Liès says the key to success is a business model based on “a deep understanding of market fundamentals, participants’ behaviours and the evolution of your clients’ needs”. 

“Rigorous cycle management, portfolio steering and underwriting discipline remain the obvious tools for profitable success,” he said.

CEO Reinsurance Christian Mumenthaler says Swiss Re wants to be the preferred reinsurance partner for its clients, interacting with them along the entire “value chain”.

In addition to reinsurance capacity Swiss Re provides services such as strategic advice, product development, knowledge exchange platforms and risk modelling.

“Our business model is based on being very close to our clients through daily interactions and a full range of services,” Mr Mumenthaler said. “This level of interaction differentiates a true reinsurance partner from a simple risk-transfer mechanism.”