ZURICH May 4 An estimated $1.3 billion
insurance industry price tag from Australia's Cyclone Debbie
will "certainly" impact regional reinsurance pricing even if it
doesn't make waves across the globe, Swiss Re's
finance chief told Reuters.
"Debbie in itself may not have an impact that is so
significant that it will have broad-reaching influence on global
pricing," David Cole said in an interview following the group's
first-quarter results on Thursday. "It certainly
will have an influence on pricing in the affected market."
The group remains interested in acquisitions, especially in
its corporate solutions and life capital businesses, he said,
but is unlikely to announce any major purchases soon.
"You would expect a company such as Swiss Re -- which
maintains a strong market position, has access to a lot of
insights and capital flexibility -- to continuously scan the
market, and we keep our eyes and ears open for opportunities,"
he said. "But I would not particularly use the word 'active' and
suggest some sort of imminent announcement."
(Reporting by Brenna Hughes Neghaiwi and Paul Arnold, Editing
by Michael Shields)