Swiss Re Reports 9% Rise in H1 2026 Net Income to USD 2.8 Billion
Zurich — Global reinsurance giant Swiss Re on Thursday reported a 9% year-on-year increase in net income to USD 2.8 billion for the first half of 2026, driven by strong performance across all its business units.
The company posted USD 1.3 billion in net income for the second quarter alone, keeping it on track for its full-year target of USD 4.5 billion. Return on equity stood at 22.7%.
Property & Casualty Reinsurance led the growth with net income up 18% to USD 1.4 billion, aided by low catastrophe losses and a combined ratio of 76.7%. Corporate Solutions net income rose 14% to USD 490 million, while Life & Health Reinsurance grew 21% to USD 1.0 billion on favourable US mortality trends.
Swiss Re also raised its operating cost-reduction target to USD 500 million by 2028, up from an earlier goal of USD 300 million by 2027, and maintained a strong solvency ratio of 264%, well above its target range.
In leadership changes, Velina Peneva was named CEO of Life & Health Reinsurance, succeeding Paul Murray, while Martin Zingg was appointed Group Chief Investment Officer — both effective October 1, 2026.
Group CEO Andreas Berger said the results reflected the “strength of our diversified Group,” noting the company paid out more than USD 17 billion in claims during the period while remaining cautious ahead of peak hurricane season.