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Swiss Re aims to exceed 3.6 billion USD in net profit by 2024

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Magazine Issue: 
Reinsurance renewal 2024 : An upturn or just a respite? [3]
Magazine date: 
Dec 2023

Swiss ReFollowing its transition to IFRS accounting standards, Swiss Re has set itself new targets for the financial year 2024:

  • a net profit of over 3.6 billion USD, 1.5 billion USD of which would be generated by L&H Re
  • a combined ratio below 87% for P&C Re and below 93% for the Corporate Solutions subsidiary
  • a multi-year return on equity (ROE) exceeding 14%.
The reinsurer will switch to IFRS accounting standards starting 1 January 2024. Prior to this, the Swiss group had been reporting its results in accordance with US GAAP.
Tue, 05/12/2023 - 15:02

Source URL: https://www.atlas-mag.net/en/category/pays/suisse/swiss-re-aims-to-exceed-36-billion-usd-in-net-profit-by-2024

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