In Good Company with Nicolai Tangen HIGHLIGHTS: Andreas Berger - CEO of Swiss Re
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Mar 13, 2026 
Andreas Berger, CEO of Swiss Re and expert in reinsurance and risk modelling, explains how insurers are protected and diversified. He talks about using data and AI to price complex risks, limits on cyber coverage, insuring algorithmic risk, and how strategic patience guides decisions in uncertain times.
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Reinsurance Is Global Diversification For Insurers
- Reinsurers provide global diversification that protects insurers' balance sheets.
- Andreas Berger explains Swiss Re reduces required capital for insurers by pooling non-correlated risks worldwide, boosting capital efficiency.
Three Business Units Create Powerful Diversification
- Swiss Re splits business into life & health, property & casualty, and corporate solutions to reduce correlation.
- Berger notes natural catastrophe returns rise from 8% standalone to 40% at group level due to diversification.
You Can Only Insure What You Can Model
- Understanding and modelling exposures drives insurability for new risks like cyber.
- Berger highlights cyber's unknown worst-case scenarios and poor exposure data limit capacity and high limits.