All segments put up will increase in internet earnings
Results season continues with the flip of reinsurance big Swiss Re sharing its earnings report for the primary six months of 2023.
Here’s how Swiss Re fared within the first half, in comparison with the identical interval final yr:
|
Source |
H1 2023 internet earnings |
H1 2022 internet earnings |
|---|---|---|
|
Property and casualty reinsurance |
US$904 million |
US$316 million |
|
Life and well being reinsurance |
US$393 million |
US$2 million |
|
Corporate options |
US$323 million |
US$220 million |
|
Consolidated group |
US$1.4 billion |
US$157 million |
“The overall result in the first half of 2023 reflects the good positioning of Swiss Re, as well as the quality of our new business,” group chief government Christian Mumenthaler stated in a launch. “The performance of P&C Re and Corporate Solutions contributed to a solid second quarter.”
According to Swiss Re, its revenue within the second quarter amounted to US$804 million.
Meanwhile group chief monetary officer John Dacey had this to say: “In spite of macro-economic volatility, larger rates of interest and steadily rising recurring earnings contributed to an improved funding consequence.
“We have maintained our very strong capital position, which allows us to take advantage of attractive business opportunities.”
Swiss Re’s constructive financials in H1 have been primarily attributed to contained pure disaster losses within the interval, L&H Re’s efficiency returning to pre-pandemic ranges, and a powerful consequence for Corporate Solutions.
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