Swiss Re reported a profit after tax of over $3.2 billion for the year ending Dec. 31, 2024. In the property/casualty reinsurance segment, it recorded a profit of $1.2 billion and a combined (loss and expense) ratio of 89.9%, despite adding $3.1 billion to its U.S. casualty reserves during the year (all combined ratios are as calculated by Swiss Re). The group's life and health reinsurance segment produced over $1.5 billion in net profits, its strongest performance since the COVID-19 pandemic began. Swiss Re also announced a preliminary loss estimate of less than $700 million for the wildfires that hit California in January 2025. Despite the insurance industry suffering another $100 billion-plus catastrophe year and the group significantly strengthening its
