Swiss Re: better profitability

26. February 2024
-IAM, News

Olivier Aeschlimann, Senior Financial Analyst

Swiss Re benefited from favorable conditions in 2023. According to CFO John Dacy, the group is well positioned to take advantage of current market conditions. As the higher interest rate environment supports recurring investment income, premium volumes in the P&C (property & casualty) segment, increased by 9% and price increases of 9% were also passed during renewals from January 2024. The group therefore achieved all its financial objectives during a year marked by geopolitical turbulence and economic uncertainty. The return on equity (ROE) stands at 22.3% and the combined ratios for the P&C segment at 94.8%. Based on the group’s improved profitability, the board of directors will propose to the general meeting to increase the dividend to USD 6.8 per share. For 2024, Swiss Re projects to achieve a net profit of USD 3.6 billion according to IFRS standards.