The Swiss Re group has posted a net profit of 1.046 billion USD in H1 2021 compared to a net loss of 1.135 billion USD at the end of June 2020. The return on equity (ROE) is 8.2%.
This performance is driven by the P&C class of business which recorded a net result of 1.248 billion USD. The non-life combined ratio has improved by 21.4 points to reach 94.4% at the end of June 2021.
As at 30 June 2021, the life and health (L&H) activity has shown a net deficit of 119 million USD due to the losses related to Covid-19 which totaled 810 million USD. The direct insurance entity, Corporate Solutions, is profitable by 262 million USD.
Excluding the impact of Covid-19, that is 870 million USD, the group's net result would be 1.7 billion USD at the end of June 2021 and with a ROE of 13.4%.
The net earned premiums amounted to 20.8 billion USD during the first half of 2021, a 7.6% increase compared to the same period of the previous year.