3
Are you ready to change?
It is better to travel well than to arrive.
Buddha
What is the best way to manage large and unpredictable risks? This was the issue that focused the minds and energies of specialists and managers at Swiss Re, one of the world’s largest reinsurance companies. It was an interesting problem. How could unusual risks be underwritten by placing them back on the open financial markets? Hurricanes in Florida or floods in the Indian subcontinent are infrequent but major events. Techniques in alternative risk transfers marked a small but new territory, and the group had restructured to make its mark there. The company set up the Financial Services Business Group (FSBG) in 2001, and an integration programme swiftly followed ...
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