Thomas Holzheu, Chief Economist at Swiss Re Institute, Ph.D.
Thomas Holzheu is the Chief Economist for the Americas and Deputy Head of Group Economic Research and Strategy at the Swiss Re Institute. He oversees economic and insurance market research for the Americas, which includes the renowned sigma studies on the insurance industry.
His work supports Swiss Re’s strategic planning, focusing on market developments, economic conditions, competitive dynamics, and regulatory impacts on insurance and reinsurance markets in the region.
Holzheu has authored several studies on global insurance trends, exploring topics like non-traditional insurance solutions, underinsurance of property risks, and the effects of inflation on insurance. He is also a frequent speaker on economic and insurance-related issues.
Since joining Swiss Re in 1990, Holzheu has held various roles in Germany, Switzerland, and the US, including marketing services, treaty underwriting, corporate development, and competitor analysis. He holds a Master of Science and a Ph.D. in Economics from the University of Munich.
Experience:
from 2017 Chief Economist Americas, Swiss Re Institute
2011 – 2017 Head of Economic Research & Consulting, Americas, Swiss Re Institute, Greater New York City Area
1997 – 2011 Senior Economist Swiss Re Institute, Economic Research & Consulting, New York
As Chief Economist Americas, I’m responsible for economic forecasting and insurance market research in the Americas. Together with my team, I support Swiss Re’s business units and strategic planning, provide insights and forecasts on market developments and the economic environment.
Thomas Holzheu, Swiss Re Institute
This includes the sigma series, Swiss Re’s research publication on the insurance industry. I frequently present and publish on economic, insurance and risk-related topics. Research areas include technology trends, regulatory factors, catastrophe loss trends, protection gaps, alternative capital, liability claims drives and the interaction of re/insurance with international financial markets.
Education:
1990 – 1994 Ludwig-Maximilians-Universität München, Doctor of Philosophy (Ph.D.), economics
Ludwig-Maximilians-Universität München, Diploma, economics 1985 – 1990 / Law and Economics, Property Rights Theory, Environmental Policy, Risk and Insurance.
“Environmental politics via liability rules – loss prevention and risk allocation” / Law and Economics, Property Rights Theory, Environmental Policy, Risk and Insurance.
Honors & awards
2017 Shin Research Excellence Award / Issued by Geneva Association and International Insurance Society (IIS)
U.S. property and casualty (P&C) insurance industry achieved its best underwriting performance in over 15 years in 2024. The industry has turned a corner
Life insurers’ risk appetite is returning rapidly as interest rates remain higher for longer. Stock insurers are regaining appetite for asset-intensive business
The low interest rate years were challenging for people trying to save for retirement. Low rates made savings products and life insurance less appealing
While life insurers’ exposures to illiquid assets have been rising, it does not necessarily lead to unmeasured risks. Private and illiquid credit cannot be traded or sold
The life insurance industry in 2024 looks very different to 15 years ago. Low interest rates from 2008 until the inflation surge after 2021 put huge strain on the traditional life
The surge in interest rates to 15-year highs significantly improves the outlook for life and annuity insurance. The life insurance industry today looks very different to 15 years ago
In the era of digital transformation, the insurance sector has observed a paradigm shift in the creation of value. Digital data, now form a significant part of the economic value
The intensity and spread of inflation is sending insurance claims costs soaring. Strong rate hardening in commercial insurance lines and personal lines rates support topline growth
2024 will be a difficult year for the US P&C industry: claims severities surged with inflation, natural catastrophe losses were elevated for a sixth straight year
In response to uncertainty around cyber risk, insurance providers have become more selective in their underwriting through better risk selection, lower limits, cyber insurance
Risk management is the process of identifying, assessing and responding to/mitigating risk events. Organisations must understand the probability and potential severity of loss events
