Swiss Re, Prudential Guarantee strengthen 40-year partnership

MANILA, Philippines — The global reinsurer Swiss Re and leading non-life insurance company Prudential Guarantee and Assurance Inc. (PGAI) further strengthened their partnership with new platforms and tools for underwriting and risk management.

Introduced were the Project Underwriting Management Application that improves evaluation of risks involved in engineering and construction projects, and other digital solutions that can better assess property coverage for climate-related disasters.

These complement the technical support, comprehensive risk assessment, and management services Swiss Re provides PGAI.

Partners since 1982, the two companies have created a large pool of insurance data that benefits analytics, claims management, and underwriting capabilities. Further synergies allow the companies to capitalize on emerging opportunities.

PGAI has led the domestic non-life insurance sector for four decades, particularly in the net premiums written category.

In 2022 the company was again the top non-life insurer with net premiums written amounting to P5.73 billion.