Swiss Re Ltd.

This report does not constitute a rating action. Overview Key strengths Key risks A leading position in property/casualty (P/C) and life reinsurance markets with a renowned brand. Exposure to natural catastrophe risks makes the group, like its peers, vulnerable to volatility in capital and earnings. Diversified product suite across P/C and life reinsurance that bolsters the group?s competitive position. Continued capital market volatility and further geopolitical uncertainty could weigh on both insurance and investment results. Expected to maintain capital under our risk-based capital model at the 99.99% level and a healthy regulatory solvency ratio over the next two years. S&P Global Ratings expects Swiss Re (the group) will maintain its position among the top global reinsurers, benefiting from its highly

...Swiss Re will remain a dominant player in the global reinsurance sector, in our view. S&P Global Ratings expects Swiss Re (the group) will maintain its position among the top global reinsurers, benefiting from its highly diversified operations across markets. In 2025, 44% of its revenue came from property/casualty reinsurance (P/C Re), 38% from life and health reinsurance (L&H Re), and 18% from Corporate Solutions (the group's commercial P/C business). It generates about 49% of its revenue in the Americas, 34% in Europe, the Middle East, and Africa, and 17% in Asia-Pacific....

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