Swiss Re publishes earnings for first 9 months

Swiss Re publishes earnings for first 9 months | Insurance coverage Enterprise America

Reinsurance large reveals big turnaround

Swiss Re publishes earnings for first nine months

Insurance coverage Information

Terry Gangcuangco

Swiss Re has made an enormous turnaround, bouncing again from a web loss within the first 9 months of 2022 to a web earnings in the identical interval this yr.

Supply of web earnings/(loss)

9M 2023


Property & casualty reinsurance

$1.5 billion

$(283 million)

Life & well being reinsurance

$634 million

$221 million

Company options

$492 million

$356 million

Consolidated group

$2.5 billion

$(285 million)


Of the entire web revenue within the first 9 months, $1 billion got here from the third quarter.

“Swiss Re’s efficiency within the first 9 months of 2023 is the results of our continued concentrate on underwriting high quality,” group chief government Christian Mumenthaler stated. “This has enabled us to navigate a heightened danger surroundings that continues to be characterised by vital loss occasions for the insurance coverage business.

“In gentle of the nice efficiency yr so far, we keep our targets for the complete yr together with a gaggle web earnings of greater than $3 billion. We proceed to concentrate on our disciplined underwriting technique that gives a robust base for the longer term.”

Swiss Re’s full-year 2023 outcomes shall be introduced in February 2024, whereas the corporate’s a hundred and sixtieth annual common assembly will happen in April.

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