Bulletin: Swiss Re's Earnings Top $3 Billion As Underwriting Performance Continues to Improve

LONDON (S&P Global Ratings) Feb. 19, 2024--S&P Global Ratings said today that Swiss Re's results for 2023 demonstrate the group's continuing performance improvement. We expect Swiss Re (rating on core subsidiaries: AA-/Stable/--) to see even better earnings in 2024 with net income of $3.6 billion (on an International Financial Reporting Standard [IFRS] 17 basis) as market conditions remain favorable and the group's disciplined underwriting continue to bear fruit. We will continue to monitor the group's U.S. casualty reserving in its property casualty reinsurance (P/C Re) segment as it continues to bolster these reserves. Swiss Re's life and health reinsurance segment recorded profits of $976 million as the effect of COVID-19 related claims significantly reduced and investment returns improved. We expect

...February 19, 2024 LONDON (S&P Global Ratings) Feb. 19, 2024--S&P Global Ratings said today that Swiss Re's results for 2023 demonstrate the group's continuing performance improvement. We expect Swiss Re (rating on core subsidiaries: ##-/Stable/--) to see even better earnings in 2024 with net income of $3.6 billion (on an International Financial Reporting Standard [IFRS] 17 basis) as market conditions remain favorable and the group's disciplined underwriting continue to bear fruit. We will continue to monitor the group's U.S. casualty reserving in its property casualty reinsurance (P/C Re) segment as it continues to bolster these reserves. Swiss Re's life and health reinsurance segment recorded profits of $976 million as the effect of COVID-19 related claims significantly reduced and investment returns improved. We expect that despite continued elevated mortality levels, particularly in the U.S. and the U.K., 2024 will see further improvement, with earnings reaching $1.5 billion (on an IFRS...

Bulletin