Swiss Re: results as at 30 June 2024

Swiss Re has published its key business indicators for the first six months of 2024. The Group's half-year results are presented in accordance with the new IFRS accounting standards.

In the first half of 2024, the Zurich-based group posted a net profit of 2.088 billion USD against 1.788 billion USD in the same period of 2023, an increase of 16.8%.

Property & Casualty Reinsurance (P&C Re) closed the first two quarters of the current year with net result of 989 million USD, up 1.6%over one year. The combined ratio deteriorated by 2.7 points to 84.5%.

Life & Heath Reinsurance (L&H Re) rose by 46.2% to 883 million USD at 30 June 2024.

The net profit for Corporate Solutions, Swiss Re's commercial insurance subsidiary, reached 435 million USD, up 37.2% in one year.

The Swiss group's insurance income amounted to 22.479 billion USD, increasing by 3.2% compared to the 21.783 billion USD recorded a year earlier.

For the current financial year as a whole, Swiss Re expects the net result to exceed 3.6 billion USD.