Swiss Re exits underpriced lower layers with high risk exposure

John Dacey, chief financial officer of Swiss Reinsurance Co. Ltd., said that the reinsurer has withdrawn from certain lower layers of risks worth around $2 billion of notional exposure in 2021 in order to protect earnings, Reinsurance News reported. Mr. Dacey said that underpricing of lower layers, especially aggregate covers, in some geographies made the company exit such segments to limit its exposure.