Despite an exceptionally disaster-affected year 2017, Swiss Re posted a net profit of 331 million USD. This result amounted to 3.56 billion USD in 2016.
The turnover amounted to 34.8 billion USD, down by 2.25% compared to 35.6 billion in 2016. This decrease in premiums is due to a more restrictive underwriting policy.
The combined ratio deteriorated by 18 points from 93.5% in 2016 to 111.5% a year later. This rise in the loss experience is due to the major natural disasters that occurred in 2017. Note that these exceptional losses incurred by the Swiss reinsurer amounted to 4.7 billion USD.
The world's largest reinsurer has finally decided to raise the dividend paid to its shareholders and to launch a new share buyback program of up to 1 billion CHF (1.02 billion USD).
More news on: