Improved performance and lower natural-catastrophe claims drive higher profits

  • Swiss Re reported a net profit of $3.21 billion in 2023
  • Improved performance in property-and-casualty reinsurance segment
  • Large natural-catastrophe claims were below budget
  • Property-and-casualty segment contributed $1.86 billion to profit
  • Life-and-health and corporate-solutions businesses also posted higher profits
  • Net premiums earned and fee income rose to $45.00 billion
  • Renewed treaty contracts valued at $13.1 billion
  • Maintained profit target for 2024 of over $3.6 billion
  • Proposed dividend of $6.80 per share for 2023, up 6% from prior year

Swiss Re reported a sharply higher net profit of $3.21 billion in 2023, driven by improved performance in its property-and-casualty reinsurance segment. The company’s property-and-casualty segment was the largest profit contributor, with $1.86 billion. Additionally, its life-and-health and corporate-solutions businesses also posted higher profits. Large natural-catastrophe claims were below budget, amounting to $1.3 billion. Net premiums earned and fee income rose to $45.00 billion. Swiss Re renewed treaty contracts valued at $13.1 billion, representing a 9% volume increase and achieving a price rise of 9%. The company maintained its profit target for 2024 of over $3.6 billion and proposed a dividend of $6.80 per share for 2023, up 6% from the prior year.

Companies Public: Swiss Re (N/A)
Factuality Level: 8
Factuality Just: The article provides specific financial figures and statements from Swiss Re regarding their net profit, property-and-casualty reinsurance segment, and natural-catastrophe claims. The information is supported by the company’s official statements and is not presented in a sensational or biased manner. However, the article lacks in-depth analysis or context about the industry or the company’s performance compared to its competitors.
Noise Level: 7
Noise Just: The article provides some financial information about Swiss Re’s net profit and performance in its different segments. However, it lacks in-depth analysis, evidence, and actionable insights. It mainly focuses on financial figures and does not explore the consequences of the company’s decisions or hold powerful people accountable. The article also lacks scientific rigor and intellectual honesty as it does not provide any supporting data or examples.
Financial Relevance: No
Financial Markets Impacted: No
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Just: The article does not mention any extreme events.

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