CRO position paper

CRO position paper of leading primary insurers and reinsurers on climate change and the hurricane risk in the North Atlantic.

The Chief Risk Officers (CRO) of the top two reinsurers Munich Re and Swiss Re have initiated a fundamental paper dealing with the impact that the risk of change from tropical cyclones has on the insurance industry. The CRO paper is based to a considerable extent on the Munich Re study entitled "Hurricanes — More intense, more frequent, more expensive" by Geo Risks Research. The signature of this statement by the largest reinsurers and the leading primary insurance companies indicates far-reaching agreement in the assessment of such risks.

The CRO Forum is an independent association of 13 European insurance undertakings aimed at identifying emerging risks and financing studies related to this topic.