Swiss Re: Net loss to reach 389 million USD in Q4 2020

The German investment bank Berenberg, expects Swiss Re to record a net loss of 389 million USD in Q4 2020. Such loss is mainly due to the business interruption and event cancellation.

The pandemic-related losses were estimated at 3.7 billion USD as at 31 December 2020 compared to 3 billion USD as at 30 September 2020.

The losses of the Property and Casualty (P&C) and Corporate Solutions activities alone would reach 2.7 billion USD. The increase in mortality due to coronavirus would cost 1 billion USD to Swiss Re's Life & Health (L&H) division.

Berenberg also estimates that the Swiss reinsurer is to sustain heavy losses due to the natural disasters  which took place during Q4 2020.