Stability & consistency key for Swiss Re ahead of Baden-Baden & Jan renewals: Nikhil da Victoria Lobo

Global reinsurance giant Swiss Re will have a key focus on stability and consistency during its negotiations with clients at the 2025 Baden-Baden Reinsurance Meeting, as the market navigates underlying strengths and challenges ahead of the key January 1st renewal season, according to Nikhil da Victoria Lobo, Head of P&C Reinsurance for Western & Southern Europe and Middle East & Africa.

For the latest Reinsurance News video interview, now available to watch in full, we spoke with Swiss Re’s Nikhil da Victoria Lobo about market dynamics across his regions as the industry prepares to meet in Baden-Baden.

The discussion covered supply demand dynamics, the outlook for the 1.1 renewals, rising secondary perils and frequency covers, emerging technologies such as AI, as well as the role of innovative structures like parametric risk transfer, and more.

“First, it’s probably a good moment to say, I think the reinsurance market is generally quite efficient right now and quite stable. But obviously, if you look a little bit under the fundamentals, you see some underlying strengths, but also challenges,” he said.

As examples, da Victoria Lobo highlighted climate and natural catastrophes, the fact certain jurisdictions in Europe are adjusting their motor bodily injury tables, and the highly unstable global landscape.

“So, all of this put together, clearly our focus as Swiss Re coming to Baden-Baden will be on stability, consistency, continuing to be partners. But I’d also highlight to the audience that, again, the industry is very resilient, but there are fundamental challenges in society,” he continued.

Commenting on the upcoming 1.1 reinsurance renewals, da Victoria Lobo said that he expects a lot of consistency with what Swiss Re has messaged in recent years, but expects climate, the economy, and geopolitics to be three burning topics as the carrier digs deeper “into how it manifests itself in our renewal discussions.”

Watch the full video interview with Swiss Re’s da Victoria Lobo to hear more on the January renewals, the impacts of secondary perils and whether this signals a return to frequency covers, what reinsurers need to do to ensure they keep meeting their cost of capital in the softening environment, and also the role of emerging technology and some of the biggest challenges and opportunities for P&C reinsurance heading into 2026.

The full video interview is embedded below.