Swiss Re: results as at 30/09/2024

Swiss Re has published its key business indicators for the first nine months of 2024. Presented in accordance with IFRS 17, the figures are not comparable with those reported for the first three quarters of 2023.

For the nine months ended 30 September 2024, the Zurich-based Group posted a net profit of 2.2 billion USD.

Insurance revenue amounted to 33.7 billion USD. Insurance service result from underwriting activities reached 2.9 billion USD.

Shareholders' equity stood at 21.6 billion USD, while return on equity (ROE) was 13.4%.

During the reporting period, the non-life segment (P&C Re) posted insurance revenue and net profit of 14.977 billion USD and 603 million USD respectively. The combined ratio stood at 92.8%.

Natural disasters losses totaled 813 million USD, out of which 743 million USD were recorded in the third quarter of 2024. The most notable meteorological events were the hailstorm in Canada, storm Boris in Europe and hurricanes Debby (Canada) and Helene (USA).

The Life & Health (L&H) business generated insurance revenue of 12.555 billion USD and net income of 1.204 billion USD.