Swiss Re says Basel III will hurt more than Solvency II

Thomas Hess chief economist at reinsurer Swiss Re says Basel III banking capital rules are good news for reinsurance companies, City AM reports.

“Banks’ capital charges have been rightly raised by quite a bit. At the centre of the crisis were the banks, not the insurers,” he said.

Basel III will have a bigger effect on financial services than Solvency II. “Banks will have much bigger challenges to cope with the new regulation than insurers will,” Hess said.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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