Reinsurance large makes enormous turnaround
Swiss Re has made an enormous turnaround, bouncing again from a web loss within the first 9 months of 2022 to a web revenue in the identical interval this 12 months.
|
Supply of web revenue/(loss)
|
9M 2023
|
9M2022
|
|---|---|---|
|
Property & casualty reinsurance
|
US$1.5 billion
|
US$(283 million)
|
|
Life & well being reinsurance
|
US$634 million
|
US$221 million
|
|
Company options
|
US$492 million
|
US$356 million
|
|
Consolidated group
|
US$2.5 billion
|
US$(285 million)
|
Of the overall web revenue within the first 9 months, US$1 billion got here from the third quarter.
“Swiss Re’s efficiency within the first 9 months of 2023 is the results of our continued concentrate on underwriting high quality,” group chief government Christian Mumenthaler stated. “This has enabled us to navigate a heightened danger setting that continues to be characterised by vital loss occasions for the insurance coverage trade.
“In mild of the nice efficiency 12 months thus far, we keep our targets for the total 12 months together with a bunch web revenue of greater than US$3 billion. We proceed to concentrate on our disciplined underwriting technique that gives a robust base for the long run.”
Swiss Re’s full-year 2023 outcomes might be introduced in February 2024, whereas the corporate’s a hundred and sixtieth annual basic assembly will happen in April.
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