Swiss Re Reports USD 3.2 Billion Net Income for 2024, Next Target More Than USD 4.4 billion

Zurich – Swiss Re has announced a strong financial performance for 2024, recording a net income of USD 3.2 billion and achieving a 15% return on equity (ROE). The company’s Board of Directors has proposed an 8% increase in dividends, setting it at USD 7.35 per share.

Swiss Re’s growth was driven by disciplined underwriting, robust investment income, and strong performances across its business segments. The company’s return on investments (ROI) rose to 4.0%, up from 3.2% in 2023, driven by higher recurring income. The company maintained a strong capital position, with an estimated Swiss Solvency Test (SST) ratio of 257% as of January 1, 2025, comfortably exceeding its target range.

Source: Swiss Re Group

Looking ahead, Swiss Re has set ambitious financial targets for 2025, aiming for a net income of more than USD 4.4 billion. The company expects continued profitability, with P&C Re targeting a combined ratio below 85% and Corporate Solutions aiming for a combined ratio under 91%. Additionally, Swiss Re remains committed to annual dividend growth of at least 7%.

Despite market challenges, the Group remains confident in its ability to deliver on these targets. While preliminary claims from the Los Angeles wildfires are estimated at less than USD 700 million with the total insured market loss expected to be around USD 40 billion, CEO Andreas Berger has expressed confidence in the company’s trajectory, highlighting strong January renewals and a focus on cost efficiency as key drivers for sustained success in 2025.