SwissRe: Partnering for more resilient societies

At the 2011 World Economic Forum in Davos, Swiss Re highlights new innovations in risk financing that strengthen societies’ resilience to global risks and reduce the financial burden on governments, corporations and individuals alike.

Natural disasters, food shortages, rising pension costs, crippling public debt, climate change – these and other global risks are pushing the world to the breaking point. Governments, corporations and individuals all face increasing costs to manage these threats, and are less able than ever to cope with major shocks.

No matter what the cause, the challenge to public finances is global and likely to remain. Making societies more resilient is therefore an urgent priority. At the 2011 World Economic Forum in Davos, Swiss Re shows how new innovations in risk financing can make societies more resourceful by narrowing the gap between economic and insured losses.

Together with partners from the public and private sectors, we have already developed a number of risk transfer solutions that can be redeployed in other regions of the world. Several of these are featured in our new publication “Closing the financial gap”. We have also brought our risk management expertise to bear as co-author of the Forum’s Global Risks Report 2011, which investigates the challenges posed by growing economic disparities and global governance failures.

No doubt there are many different ways to reduce the financial strain that these and other risks put on governments and individuals. And while much is already being done, through collective action and partnership we can all work together to do an awful lot more.