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Swiss Re Ltd / Key word(s): AGMEGM/Annual Results Ad hoc announcement pursuant to Article 53 LR
Zurich, 16 March 2023 – Swiss Re today published its 2022 Annual Report, Sustainability Report and the agenda for the upcoming Annual General Meeting of shareholders (AGM) on 12 April 2023. Consistent with its capital management priorities, Swiss Re continues to focus on ensuring superior capitalisation while remaining committed to its capital return policy and deploying capital to profitable growth opportunities. The Group's capital position remains very strong with a Group SST ratio of 294% as of 1 January 2023. Combined with a positive business outlook, Swiss Re's Board of Directors decided to propose a dividend of USD 6.40 per share. As previously announced, the dividend payment is declared in US dollars starting this year, to align with Swiss Re's reporting currency. Swiss Re's Chairman Sergio P. Ermotti said: "Although 2022 was a challenging year, our very strong capital position allows us to fulfil our commitment to the shareholders by proposing a dividend of USD 6.40 per share. We are confident that our businesses are well-positioned for the future, and the new targets for 2023, announced last month, reflect our ambition to drive profitability and create shareholder value." Swiss Re's Economic Value Management (EVM) results EVM is Swiss Re's proprietary integrated economic valuation and steering framework, which consistently measures economic performance across all businesses.
Total economic net worth (ENW) decreased to USD 31.1 billion as of 31 December 2022 from USD 35.4 billion as of 31 December 2021. ENW per share was USD 107.64 (CHF 99.57) as of 31 December 2022. ENW per share growth amounted to –5.9% in 2022. The result was impacted by the war in Ukraine, reserve adjustments for economic inflation, the decline in global equity markets and credit spread widening, elevated natural catastrophe losses, updates to the internal pandemic risk model and inflation scenarios, as well as Life & Health Reinsurance assumption updates. Providing a partial compensation was the strong EVM profit on new business, driven by solid margins in Life & Health Reinsurance, as well as strong new business performance by Property & Casualty Reinsurance and Corporate Solutions. Publication of the 2022 Annual Report and Sustainability Report
Swiss Re's Chairman Sergio P. Ermotti said: "On behalf of my colleagues, I would like to thank Sue and Renato for their great dedication and commitment to Swiss Re over many years. They both contributed strongly to our company's strategic development. Their guidance and governance expertise will be thoroughly missed. We wish them all the best for the future." This year's AGM will be held at 14:00 CEST on 12 April 2023 in the Hallenstadion, Zurich. The invitation to Swiss Re's 2023 AGM is available online here. Voting results will be published on the Group's website shortly after the AGM. Media representatives who would like to attend the AGM can do so by registering here. For further information please contact Swiss Re Media Relations: + 41 (0)43 285 7171 or Media_Relations@Swissre.com. Cautionary note on forward-looking statements End of Inside Information |
| Language: | English |
| Company: | Swiss Re Ltd |
| Mythenquai 50/60 | |
| 8022 Zurich | |
| Switzerland | |
| Phone: | +41 (0) 43 285 71 71 |
| E-mail: | Media_Relations@swissre.com |
| Internet: | www.swissre.com |
| ISIN: | CH0126881561 |
| Valor: | 12688156 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1583771 |
| End of Announcement | EQS News Service |
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1583771 16-March-2023 CET/CEST
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