Magazine date:
Oct 2017 The exceptional series of major natural catastrophes that occurred in September 2017 has affected Swiss Re's results.
The first largest reinsurer in terms of premiums in the world displayed a cumulative loss of 400 million EUR (472 million USD) in the first nine months of 2017, compared with a profit of 2.6 billion EUR (2.9 billion USD) during the same period in 2016. The combined ratio deteriorated by 20.3 points from 93.8% to 114.1%.
Despite these results, Swiss Re affirms being able to absorb the losses and maintains its share buyback programme for the benefit of its shareholders.
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