Domus

We decided to drop it after call with Swiss Re. Difficult product, with high costs, results have not been good.

Discussion with Swiss re about Domus, and ETU. Possible entrance of Axeria.

Change of ownership business in Denmark --> Swiss re sees low profitability, and previous bankruptcies have affected Swiss Re. Domus bankruptcies are gonna affect their results as well

The MGA Scheme wont be possible for Swiss re.

Swiss re will be strict on a new partner based on :

• Capabilities
• Underwriting expertise
• Claims handling

The product is very complex:

• Recoveries from home insurance and long tail.
• Long tail was underestimated by the insurers, with no loads for inflation.
• Price is market driven, very low technical modeling behind.

Investment is very significant, complex, and Swiss Re will only support an insurance business ( no MGA).

Swiss re doesn’t see prices increasing, partially because there is no need for capacity.