on Swiss Re TEST (isin : CH0126881561)
Swiss Re Achieves USD 2.2 Billion Net Income in First Nine Months of 2024
Swiss Re has announced a net income of USD 2.2 billion for the first nine months of 2024, with a return on equity of 13.4%. The positive results are attributed to strong underwriting and investment contributions across its business units.
Property & Casualty Reinsurance (P&C Re) reported a net income of USD 603 million, while Life & Health Reinsurance (L&H Re) achieved USD 1.2 billion. Corporate Solutions added USD 642 million to the group income. The group maintained a return on investments of 3.9%.
The company reinforced its reserves in the third quarter due to US liability business needs. Despite facing significant natural catastrophe claims, Swiss Re improved its reserve strength and positioning. The group's solvency ratio stood robust at 284% as of July.
Swiss Re's outlook remains optimistic, with an anticipated net income exceeding USD 3 billion for the full year 2024, supported by a strong capital position ahead of future market updates.
R. P.
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