2023-08-04 12:53:53
– Swiss Re improved its profitability in the second quarter
The Zurich reinsurer posted a net profit of 1.45 billion dollars over the first six months of the year. At the end of June, its equity represented 12.68 billion.
Posted today at 2:53 p.m.Updated 17 minutes ago
KEYSTONE/Ennio Leanza
The reinsurer Swiss Re posted a net profit of 1.45 billion dollars (1.27 billion francs during the day) over the first six months of the year. The volume of premiums collected swelled by nearly one billion to 22.14 billion. Management is renewing its ambitions for the entire financial year.
The combined ratio, i.e. the ratio between premiums received and benefits paid, improved by nearly 4 percentage points to 94.7% in non-life insurance (Property and Casualty Re) and by nearly two percentage at 91.0% in commercial coverage (Corporate Solutions), details the interim report delivered on Friday.
At the end of June, the equity of the Zurich multinational represented 12.68 billion, down less than 10 million over six months.
The performance more or less corresponds to the projections of the AWP consensus. Combined ratios and equity are better than expected.
Management is renewing its ambition to generate $3 billion in profit for the full year.
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