Charlottesville
April 22, 2021
Swiss Re is a global reinsurance company. Insurance companies manage their risks buy buying insurance from reinsurance firms like Swiss Re.
Swiss Re recently issued a report on climate change. Given its role in the insurance market, it is one worth paying attention to. Instead of relying on journalists to summarize the findings for me, I thought it would be better to read the report itself.
My takeaway is this. It is fine to be a skeptic about what we read in the popular press about climate change. No doubt some journalists sensationalize the issue (and on the opposite end, some journalists deny there is any such thing as an impact of climate change). But firms like Swiss Re are in the business of making money and (obviously) managing risks. To me they are very much like E.F. Hutton....
Here's the executive summary of the Swiss Re report.
Here is a link to the entire report if you would like to read it.