Latest Insurance
- Newslink Global Insurance Trends-Editor's Weekly Overview
- Global insurers unite to tackle climate risk with launch of Geneva Association Task Force
- Insurance Europe responds to publication of the EC’s new EU strategy on adaptation to climate change
- AXA CEO Buberl comments on resilient 2020 financials
- RSA reports "excellent results" for 2020
- Munich Re posts 2020 profit of E1.2bn despite high COVID-19 losses
- Beazley announces new digital business unit expired
- Next-generation claims benchmarking by Willis Towers Watson sets new standard for UK personal lines market expired
- Newcastle Unversity pioneers Hyper-Resolution Flood Risk Modelling using Bluesky 3D Aerial Survey Data expired
- thinkWhere wins contract to open up access to European mapping expired
- PartnerRe improves in fourth quarter expired
- Pool Re completes £2.475bn terrorism retrocession placement expired
21st February 2021
Swiss Re reports net loss of $878m indicating significant COVID-19 impact
Trend
Swiss Re has reported 2020 financials-highlights are: -
-Group net loss of $878m
-Excluding COVID-19 claims and reserves(pre-tax) of $3.9bn, Group net income rose to $2.2bn from $727m in 2019, return on equity (ROE) of 7.3%
-Property and Casualty Reinsurance(P&C Re) net loss of $247m; excluding COVID-19 impact, net income of $1.3bn and ROE of 13.2%
-Nominal price increases of 6.5% achieved in January 2021 P&C Re renewals; focus on portfolio quality allows for an improved 2021 normalised combined ratio estimate of less than 95
-Life and Health Reinsurance(L&H Re) net income of $71m; excluding COVID-19 losses, net income of $855m and ROE of 10.4%
-Corporate Solutions turnaround ahead of plan; excluding COVID-19 losses, net income increased to $393m, with an ROE of 16.5%
-Life Capital successfully closed the ReAssure sale, delivering a dividend of $1.5bn to the Group; continued dynamic growth at iptiQ
-Strong return on investments (ROI) of 3.5%
-maintains a very strong capital position, with a Group Swiss Solvency Test(SST) ratio as of 1st January 2021 within the new target range of 200–250%
-Board of Directors to propose a stable dividend of CHF 5.90 per share
Swiss Re Trends(763 articles)
