Swiss Re flags heat risks as Germany eases curbs

Swiss Re chief executive Andreas Berger warned that the risk of heatwaves and the associated fatalities has been underestimated. He said there is a need to raise awareness of the dangers arising from extreme heat, underscoring the human and economic impact of prolonged high temperatures.

Berger’s comments come as heatwaves intensify concerns for the insurance and reinsurance industry, which faces higher potential losses from heat-related mortality and disruption. While the exact financial impact remains unclear, the remarks point to growing recognition of heat as a major risk factor.

Against this backdrop, Swiss Re reported a 9% increase in net profit for the first half of 2026. The profit growth shows that the company’s core business remained resilient in the period despite emerging climate-related challenges.

Berger cautioned that it is too early to say definitively how excess mortality from this year’s heat will influence Swiss Re’s figures. This uncertainty reflects the lag between extreme weather events, mortality data, and their eventual impact on insurance and reinsurance claims.

Public-health monitoring data from the Robert Koch Institute estimated about 11,900 heat-related deaths in Germany by late July 2026. This figure illustrates the severe human toll of the current summer’s high temperatures and provides context for Berger’s warning about underestimated heatwave risks.

The mortality estimate highlights how heat can translate directly into health, social, and financial pressures. For risk carriers such as reinsurers, such statistics are a critical input for assessing potential exposure to future heat events.

Several German states, including North Rhine-Westphalia, Lower Saxony, Rhineland-Palatinate and Saarland, have loosened trucking and road haulage restrictions on Sundays and holidays. The move is designed to ease transport bottlenecks caused by low water levels on rivers such as the Rhine.

Rhineland-Palatinate’s state secretary for transport, Markus Wolf, said low water levels are putting a strain on supply chains and that additional road transport options are being created at short notice. The temporary easing of curbs aims to maintain the flow of goods despite constraints on river shipping.

The relaxed trucking rules are scheduled to apply until the end of August 2026 and could remain in place in some states through September 2026. These measures show how prolonged heat and low water conditions are already prompting authorities to adjust infrastructure and logistics policies in real time.