Home Insurance Law Swiss Re’s web earnings soars 581% in 2023 

Swiss Re’s web earnings soars 581% in 2023 

Swiss Re’s web earnings soars 581% in 2023 


Swiss Re has reported a web earnings of $3.21bn for full-year 2023, a 580.9% bounce from $472m in 2022.  

The efficiency have been bolstered by improved underwriting margins and a lift in funding earnings as a consequence of larger rates of interest. 

Swiss Re’s property & casualty reinsurance (P&C Re) division posted a web earnings of $1.86bn for 2023, up from $312m the previous 12 months.  

Regardless of giant pure disaster claims, which totalled $1.3bn and included occasions such because the earthquake in Türkiye and Syria, Hurricane Otis in Mexico and numerous storms in Europe, the figures remained under the full-year finances of $1.7bn. 

P&C Re’s web premiums earned elevated 3.9% to $22.88bn in 2023. 

The life & well being reinsurance (L&H Re) section additionally reported a powerful 12 months, with web earnings of $976m, exceeding each the earlier 12 months’s $416m and the focused web earnings of $900m.  

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This was attributed to efficient in-force portfolio administration and sturdy funding outcomes, which counterbalanced larger mortality claims within the US. 

Company Options, one other division of Swiss Re, registered a web earnings of $678m in 2023 versus $486m in 2022.  

The reinsurer’s business-to-business-to-consumer digital unit, iptiQ, continued its enlargement in 2023, rising its in-force insurance policies to 2.7 million, up from 2.2 million the earlier 12 months.  

Gross premiums written by iptiQ surged by 29.3% to $1.1bn. 

Regardless of this development, iptiQ reported a loss earlier than curiosity and tax of $247m in 2023, in contrast with a lack of $362m in 2022. 

Swiss Re’s board of administrators will suggest a 6% dividend elevate to $6.8 per share.  

Swiss Re group CEO Christian Mumenthaler stated: “Swiss Re can look again on a profitable 2023. We achieved all our monetary targets in a 12 months that was characterised by geopolitical turbulence and continued financial uncertainty.  

“Improved worth adequacy in our property and casualty companies following sturdy renewals and our underwriting self-discipline helped us to handle elevated trade losses from pure catastrophes, whereas L&H Re achieved a stable end result, benefitting from energetic in-force portfolio administration and a powerful funding efficiency.” 

Swiss Re is focusing on greater than $3.6bn in web earnings for 2024. 



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