199: Reinsurance dynamic, competitive yet reasonably disciplined: Urs Baertschi, Swiss Re

Our sister publication Reinsurance News spoke with Urs Baertschi, Chief Executive Officer (CEO) of Property & Casualty (P&C) Reinsurance at industry giant Swiss Re in the run up to the annual Monte Carlo Rendez-vous event to discuss his view of the market and outlook to end of year renewals.

Baertschi said the reinsurance industry has been operating reasonably efficiently in 2025 and has shown resilience to large losses like the Los Angeles wildfires in January.

“When you look at the supply and demand side, there's plenty of capital here to match up with the risks that the industry is facing. And then when you look at the behaviour of the various market participants, it is still reasonably disciplined. It is a dynamic and a competitive market, but it's still reasonably disciplined,” said Baertschi.

During the interview, Baertschi also commented on the January 1st, 2026, reinsurance renewals, noting that while it is too early to predict as a lot can still happen between now and year-end, he expects the current environment around discipline and wordings to persist.

Listen to this podcast episode to hear more from Urs Baertschi of Swiss Re on the state of the market, the end of year reinsurance renewal outlook and Swiss Re's priorities going forwards.