Swiss Re AG ( (SSREF) ) has released its Q3 earnings. Here is a breakdown of the information Swiss Re AG presented to its investors.
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Swiss Re Group, a leading global provider of reinsurance and insurance-based risk transfer, reported a net income of USD 2.2 billion for the first nine months of 2024, demonstrating robust performance across its business units despite challenges in the sector.
The company achieved a return on equity of 13.4% and a return on investments of 3.9%, driven by disciplined underwriting and strong investment income. The Property & Casualty Reinsurance unit reported a net income of USD 603 million, while the Life & Health Reinsurance and Corporate Solutions segments contributed USD 1.2 billion and USD 642 million, respectively.
Swiss Re has maintained a solid capital position with a Swiss Solvency Test ratio of 284%, despite reserve strengthening in its P&C Re segment due to increased natural catastrophe activity and US liability business adjustments. The company is on track to achieve its net income target of over USD 3 billion for the full year 2024, assuming normal loss activity in the remaining months.
Looking ahead, Swiss Re remains focused on enhancing its resilience and capital strength, with plans to update the market with new targets for 2025. The company is confident in its ability to navigate future challenges, supported by its robust capital position and disciplined business strategies.
