On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). The revised criteria have improved Swiss Re Ltd.'s capital position, and we continue to assess the company's capital and earnings as very strong. We have affirmed our 'AA-' ratings on Swiss Re's core subsidiaries. The stable outlook reflects our view that, over the next two years, Swiss Re will maintain capital levels well above our 99.95% confidence level thanks to expected robust operating performance. LONDON (S&P Global Ratings) April 8, 2024--S&P Global Ratings today affirmed its 'AA-' long-term financial strength and issuer credit ratings on Swiss Re's core subsidiaries. The outlook remains stable. Under our new capital model criteria,