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Feb 2017 Swiss Re closed the year 2016 with declining results. The second largest reinsurer in the world, who targeted a profit of 3.72 billion USD, saw its net result decrease by 22.6% at 3.6 billion USD. Nevertheless, the turnover increased by 10% to settle at 33.2 billion USD. The net non-life combined ratio deteriorated by 7.8 points, from 87% in 2015 to 94.8% in 2016.
This decline is due to the economic slowdown and the high costs of natural catastrophes borne by the reinsurer in 2016: Canada forest fires, New Zealand earthquake and Hurricane Matthew.
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