Swiss Re targets a net income of more than USD 4.4 billion for 2025
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Swiss Re Ltd / Key word(s): Statement Ad hoc announcement pursuant to Article 53 LR
Zurich, 13 December 2024 – Swiss Re announces its targets for 2025, including a Group net income of more than USD 4.4 billion. The Group also aims to grow the ordinary dividend per share by 7% or more per year over the next three years and maintains its multi-year IFRS ROE target of more than 14%. Swiss Re's Group Chief Executive Officer Andreas Berger said: "We have taken decisive actions in 2024 to increase the resilience of our business. We achieved our goal of positioning overall P&C reserves at the higher end of the best-estimate range. We refocused on our core capabilities, made good progress on the withdrawal from iptiQ and are aligning our fee-generating business across the Group. "As we look ahead to 2025, we expect P&C reinsurance pricing to remain strong, with growing demand for protection driven by an elevated risk environment. Commercial insurance pricing is plateauing at attractive levels, while the growing life insurance market and favourable mortality experience in the US are underpinning L&H Re's performance. This is supported by a significant positive contribution from investment income. With a continued focus on disciplined underwriting and costs, Swiss Re is well-placed to benefit from this conducive outlook." Targets for all Business Units increased Swiss Re expects that its ongoing focus on cost discipline and efficiency will lead to a reduction in run-rate operating expenses of approximately USD 300 million by 2027.
[2] Corporate Solutions combined ratio is defined as [–(Insurance service expense (gross) + Reinsurance result + Non-directly attributable expenses) / Insurance revenue (gross)]. [3] In each year, subject to Board of Directors' proposal and subsequent AGM approval.
Management Dialogue webcast Swiss Re's Group CEO and Group CFO will host the Management Dialogue 2024 event today, covering a range of topics including 2025 financial targets. The event will be followed by a Q&A session with management. The live webcast, agenda and dial-in details are available here. Financial calendar 27 February 2025 Full-year 2024 results 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: | 2050475 |
| End of Announcement | EQS News Service |
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2050475 13-Dec-2024 CET/CEST
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