Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt - S&P Global Ratings’ Credit Research

Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt

Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt - S&P Global Ratings’ Credit Research
Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt
Published Oct 05, 2023
6 pages (2122 words) — Published Oct 05, 2023
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Swiss Re (the group) intends to repurchase up to $1.5 billion of its subordinated debt in issuance. We do not expect this to have a significant impact on the group's capital adequacy under our risk-based model and we therefore continue to assess intermediate equity content for the group's remaining hybrid instruments. We have affirmed the 'AA-' ratings on the group's core entities. The stable outlook reflects our expectations that Swiss Re will continue to post strong and improving underwriting results in 2023-2024, with combined ratios below 95% and capital maintained at the 'AA' level. On Oct. 5, 2023, S&P Global Ratings affirmed its 'AA-' financial strength and issuer credit ratings on Switzerland-based Swiss Re Ltd.'s core subsidiaries (collectively the group

  
Brief Excerpt:

...Financial strength rating ##- Anchor ##- Business risk Very strong IICRA Intermediate Competitive position Very Strong Financial risk Strong Capital and earnings Very strong Risk exposure Moderately High Funding structure Neutral Modifiers Governance Neutral Liquidity Exceptional Comparable ratings analysis 0 Support...

  
Report Type:

Research Update

Issuer
Swiss Re Ltd.
GICS
Reinsurance (40301050)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Switzerland
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt" Oct 05, 2023. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Swiss-Re-Ratings-Affirmed-On-Planned-Repurchase-Of-Up-To-1-5-Billion-Of-Subordinated-Debt-3067067>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Swiss Re Ratings Affirmed On Planned Repurchase Of Up To $1.5 Billion Of Subordinated Debt Oct 05, 2023. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Swiss-Re-Ratings-Affirmed-On-Planned-Repurchase-Of-Up-To-1-5-Billion-Of-Subordinated-Debt-3067067>
  
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