During the first semester 2019, Swiss Re net profit has exceeded expectations by reaching 953 million USD. The world second reinsurer has recorded a half-year turnover of 22.672 billion USD as opposed to 19.589 billion USD a year before, thus increasing by 16%.
The Property and Casualty business has recorded a 30% premium increase to reach 12.4 billion USD. The combined ratio has lost 7.6 points moving from 92.9% to 100.5%. Such a decline is caused by the significant losses due to natural (Typhon Jebi, storms in Australia…) and human disasters (accidents in energy or petrochemical sites). In addition, these losses emanate from the crashes of the Boeing 737 MAX in Ethiopia and Indonesia and the grounding of airplanes.
The turnover of the life and the health activities have reached 7 billion USD, decreasing by 5.7% compared to the same period in 2018.
The reinsurer’s shareholders equity have attained 30.117 billion USD compared to 27.93 billion USD one year before.
Read also | Swiss Re, results 2018 [4]