As at 30 September 2021, Swiss Re [4] has reported a net profit of 1.258 billion USD compared to a net loss of 691 million USD during the same period in 2020.
After having recorded a net deficit of 201 million USD at the end of September 2020, the P&C class of business has posted a net profit of 1.5 billion USD as at 30 September 2021. This result was achieved despite the pandemic and natural catastrophe [5] losses. During the first nine months of 2021, natural catastrophe losses have cost the group's non-life activity 1.7 billion USD.
The combined non-life ratio has improved by 12.8 points to reach 97.5% during the period under review.
The life and health entity (L&H) shows a deficit of 62 million USD in addition to 1.2 billion USD due to Covid-19 related losses.
The direct insurance entity, Corporate Solutions, has reported a positive net result of 425 million USD against a net loss of 357 million USD as at 30 September 2020.
The Swiss reinsurer has posted net earned premiums of 31.95 billion USD as at 30 September 2021, which represents a 6% growth over one year.