Swiss Re back to profit as at 30 September 2021

As at 30 September 2021, Swiss Re has reported a net profit of 1.258 billion USD compared to a net loss of 691 million USD during the same period in 2020.

After having recorded a net deficit of 201 million USD at the end of September 2020, the P&C class of business has posted a net profit of 1.5 billion USD as at 30 September 2021. This result was achieved despite the pandemic and natural catastrophe losses. During the first nine months of 2021, natural catastrophe losses have cost the group's non-life activity 1.7 billion USD.

The combined non-life ratio has improved by 12.8 points to reach 97.5% during the period under review.

The life and health entity (L&H) shows a deficit of 62 million USD in addition to 1.2 billion USD due to Covid-19 related losses.

The direct insurance entity, Corporate Solutions, has reported a positive net result of 425 million USD against a net loss of 357 million USD as at 30 September 2020.

The Swiss reinsurer has posted net earned premiums of 31.95 billion USD as at 30 September 2021, which represents a 6% growth over one year.