Switzerland's Swiss Re 9M net income rises on lower catastrophe losses

By Reuters News


Overview

  • Switzerland reinsurance provider's 9M net income rose 3% to $4.2 bln

  • Insurance revenue for 9M fell 3% due to lower P&C Re volumes

  • Company nearly completed $1.5 bln share buyback program


Outlook

  • Swiss Re targets 2026 Group net income of $4.5 bln

  • P&C Re targets full-year combined ratio of less than 85%

  • Corporate Solutions targets full-year combined ratio of less than 91%


Result Drivers

  • LOWER CATASTROPHE LOSSES - Co said results were helped by lower-than-expected natural catastrophe losses across business units

  • DISCIPLINED UNDERWRITING - Co attributed earnings to disciplined underwriting and portfolio management, per CFO Anders Malmström

  • FAVOURABLE US MORTALITY - Co said L&H Re results benefited from favourable US mortality experience


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Net Income

$4.20 bln

9M ROE

22.50%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 11 "sell" or "strong sell"

  • The average consensus recommendation for the reinsurance peer group is "buy."

  • Wall Street's median 12-month price target for Swiss Re AG is CHF125.00, about 19.9% below its November 4 closing price of CHF156.10

  • The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Nov 3 - Insurer American Financial Group's Q3 adj EPS beats on underwriting and premium growth

  • Nov 2 - CNA Financial Q3 net income falls, catastrophe losses rise

  • Nov 3 - International General Insurance Q3 net income falls due to lower energy line premiums


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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