Swiss Re Ltd

SREN

Equity

ISIN CH0126881561 / Valor 12688156

SIX Swiss Exchange (2024-12-23)

CHF 130.35+1.44%

Swiss Re Ltd
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About company

Swiss Re Ltd is a leading provider of reinsurance, insurance, and other insurance-based risk transfer solutions. The company serves a global client base that includes insurance companies, corporations, and public sector clients, offering a range of products from standard coverage to customized solutions across various lines of business. Swiss Re leverages its capital strength, expertise, and innovation to facilitate risk-taking essential for enterprise and societal progress. The company's core reinsurance products cover a wide range of services in the property & casualty and life & health sectors, while also providing corporate finance solutions and supplementary services for comprehensive risk management. Additionally, Swiss Re actively supports research on climate change through collaborations with scientific and academic institutions.

Summarized from source with an LLMView SourceSector: Finance

Net Income and Return on Equity

Swiss Re Ltd reported a net income of USD 2.2 billion for the first nine months of 2024, with a return on equity (ROE) of 13.4%. This performance was supported by resilient underwriting and investment contributions across all business units, despite the strengthening of reserves related to the Property & Casualty Reinsurance (P&C Re) US liability business in the third quarter.

Property & Casualty Reinsurance Performance

The Property & Casualty Reinsurance (P&C Re) segment of Swiss Re Ltd achieved a net income of USD 603 million for the first nine months of 2024. The segment reported a combined ratio of 92.8%, with large natural catastrophe claims amounting to USD 813 million, primarily due to events like the Calgary hailstorm and hurricanes Debby and Helene.

Life & Health Reinsurance Results

Swiss Re Ltd's Life & Health Reinsurance (L&H Re) segment reported a net income of USD 1.2 billion for the first nine months of 2024. The segment's performance was driven by strong investment income and healthy in-force margins, with insurance revenue reaching USD 12.6 billion during this period.

Corporate Solutions Financials

Corporate Solutions, a business unit of Swiss Re Ltd, reported a net income of USD 642 million for the first nine months of 2024. The unit achieved a combined ratio of 89.4%, supported by strong underlying business performance and low man-made loss experience, despite large natural catastrophe losses of USD 294 million.

Outlook for 2024

Swiss Re Ltd expects to achieve a Group net income of more than USD 3 billion for the full year 2024, assuming normal loss activity for the remainder of the year. The company anticipates losses from Hurricane Milton to be less than USD 300 million, impacting the fourth quarter results. Swiss Re plans to update the market with new targets for 2025 in the coming months.

Summarized from source with an LLMView Source

Key figures

36.2%1Y

45.0%3Y

18.6%5Y

Performance

23.8%1Y

23.4%3Y

28.7%5Y

Volatility