Leopoldo Camara, Head of P&C reinsurance for Northern, Central, and Eastern Europe at Swiss Re, highlighted the need for a coordinated approach across the insurance industry in response to increasing natural catastrophes, geopolitical tensions, and interconnected risks.

“We’ve seen multiple devastating hurricanes this year, and Storm Boris had a particularly severe impact on Eastern Europe,” he noted during his first Baden-Baden as head of P&C, adding that “the challenge of extreme weather events is huge, and it’s not one that only one element in the value chain of the insurance industry can solve alone.”

Camara expects natural catastrophes and macroeconomic turbulence to become a dominant theme of discussion, Nat Cats, flood risks, and macroeconomic turbulence remaining at the forefront of his concerns. He also pointed to ongoing risks such as rising inflation and property values, which increase pressure on insurers and reinsurers alike. The Swiss Re expert stressed that addressing these challenges requires joint efforts from reinsurers, insurers, brokers, governments, and capital markets.

Camara also emphasized the increasing importance of “prevention efforts as a crucial part of the strategy”. He explained: “Prevention includes the topic of where we rebuild after catastrophes, and how we manage the flooding. We’re learning all the time.” He provided examples of initiatives taken in Austria, Czechia or Hungary, of limiting the flood risk by mobile dams and thus, improving resilience.

Swiss Re’s approach focuses on resilience, prevention, and innovation, with an emphasis on proper risk management and sustainable growth. Camara believes that by pooling risks globally and developing tools to support clients, Swiss Re can offer steady, long-term support in a volatile world. Looking ahead to Baden-Baden, he sees opportunities for deeper partnerships and collaborative solutions to manage evolving risks like floods, cyber threats, and geopolitical uncertainties.