Swiss Re Reports Solid Half-Year 2018 Net Income of USD 1.0 Billion Supported by Improved P&C Underwriting Results and Selected Premium Growth
The Group generated an ROE of 6.3percent for the period and the Group's ROI was 2.6percent, both reflecting the impact of the accounting change in 2018. Excluding the impact of the new US GAAP guidance, the estimated ROE would have been 7.7percent and the corresponding ROI 3.0percent. The fixed income running yield, which is unaffected by the accounting change, was stable at 2.9percent.
Gross premiums written for the half year increased 8.0percent to
Common shareholders' equity decreased to
P&C Reinsurance results reflect stronger underwriting performance
Net income in the first six months of 2018 was
ROE for the first half of 2018 was 14.5percent and the combined ratio improved to 92.9percent in the first six months of 2018 from 97.4percent for the same period in 2017, benefiting from the absence of large losses and favourable prior accident year development.
Gross premiums written increased by 1.8percent to
July P&C Reinsurance treaty renewals show volume and price increases
Following the July P&C Re treaty renewals, which focus mainly on the
L&H Reinsurance continues to deliver strong results and profitable growth; ROE 11.5percent
Net income for the first six months of 2018 was
Gross premiums written in the first half increased 15.2percent to
Corporate Solutions benefits from a moderately improving market environment; significant premium growth driven by Primary Lead business
The Business Unit generated a net income of
Gross premiums written (2) increased by 18.5percent to
Rates, as well as terms and conditions, improved after last year's natural catastrophe events, with high single-digit price increases in loss-affected accounts, but the rate environment remains challenging.
Corporate Solutions continued to invest in its Primary Lead capabilities in the first half of 2018. Through its proprietary technology platform, the Business Unit currently offers domestic insurance coverage to companies headquartered in 18 countries and, in 9 out of these 18 countries, Corporate Solutions can also offer international insurance programme coverage. Overall, the Corporate Solutions' global network structure extends to over 80 countries.
The Business Unit continued to expand its footprint by opening an office in
During the first six months of 2018, net income was
The Business Unit generated exceptional gross cash of
Gross premiums written increased significantly to
The
There can be no assurance that the exploration will result in an IPO of ReAssure, and there is no certainty as to the timing of, or the details relating to any such IPO, including its terms, structure or the size of
Supporting the transition to a low-carbon economy
As a pioneer in the adoption of environmental, social and governance (ESG) investment benchmarks in the re/insurance industry,
In addition, in
Table omitted. To view table click here: (http://www.swissre.com/media/news_releases/nr_20180803_hy.html)
Footnotes:
1, 2 Including premiums for insurance in derivative form, net of internal fronting for the Reinsurance Business Unit.
3 In the event that
4 Excludes, for reference only, the impact of the new US GAAP guidance on recognition and measurement of financial instruments, which was effective for the Group as of
5 Gross cash generation is the change in excess capital available over and above the target capital position, with the target capital being the minimum statutory capital plus the additional capital required by
Final Rule on Short-Term Insurance Plans Will Leave Patients With High Costs, Less Coverage
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News