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Resilience and the Price of Risk

Jérôme JEAN HAEGELI (Dr) * Économiste en chef, Groupe Swiss Re, Swiss Re Institute. Contact : jerome_haegeli@swissre.com.


The pricing of risk is a core driver of the insurance industry's effectiveness in improving system resilience. Insurers have two core functions. On the asset side, they are long-term investors, to match their duration of liabilities. With their huge asset base of about USD 30 trillion, insurers can act as capital market shock absorbers. On the liability side, insurers help households, businesses and governments protect themselves against potential financial losses arising from the occurrence of adverse events. On both sides, the pricing of risk is a key determinant of how much insurers can contribute to making society more resilient.


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