Insurance Europe says the sector will be able to deal with the current levels of wildfires across the continent. Director General Thea Utoft Høj Jensen joins Bloomberg&#x27;s Stephen Carroll and Caroline Hepker on Daybreak Europe to discuss how the insurance sector is responding to the increasing wildfire risks and whether pressure will grow on premiums.<br>See omnystudio.com/listener for privacy information.

Insurance Europe's Thea Utoft Høj Jensen Talks Wildfire Risks

Bloomberg Talks

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[SPEAKER_06] Now, insurers are bracing for a new era of catastrophe risk in Europe as rising temperatures and other extreme weather increase the likelihood of fires, flooding and other disasters. The continent's big insurers have reported strong earnings this season, but warned of the bigger risks ahead. Let's take a listen to what executives at AXA, Swiss Re and Zurich Insurance have told Bloomberg in recent days.

[SPEAKER_03] We have to live with the fact that these fires are happening more and more. This is part of climate change. This is part of our daily reality now. We need to understand the risk. We need to say, OK, what's happening here? How can we mitigate the risk? And that's an area where we work a lot now with different parties, with municipalities, with utility companies.

[SPEAKER_02] I would not say that it's uninsurable. I would say that the cost of this insurance might be higher over time and could reach levels that might not be interesting convenience for the customers.

[SPEAKER_06] That was Tommy Baberl of AXA, Anders Malmström of Swiss Re and Mario Greco of Zurich Insurance all speaking to Bloomberg after their recent results. Let's discuss the picture now facing the industry, though, with Taya Utaf Toyensen, who is Director General of Insurance Europe, which represents the sector at an EU level. Theo, good morning. Welcome to our Brussels studio. The picture going into this for insurers is complicated.

Insurance Europe's Thea Utoft Høj Jensen Talks Wildfire Risks

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Insurance Europe's Thea Utoft Høj Jensen Talks Wildfire Risks

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.