All segments take pleasure in will increase in internet revenue
Outcomes season continues with the flip of reinsurance big Swiss Re sharing its earnings report for the primary six months of 2023.
Right here’s how Swiss Re fared within the first half, in comparison with the identical interval final yr:
|
Supply
|
H1 2023 internet revenue
|
H1 2022 internet revenue
|
|---|---|---|
|
Property and casualty reinsurance
|
US$904 million
|
US$316 million
|
|
Life and well being reinsurance
|
US$393 million
|
US$2 million
|
|
Company options
|
US$323 million
|
US$220 million
|
|
Consolidated group
|
US$1.4 billion
|
US$157 million
|
“The general consequence within the first half of 2023 displays the great positioning of Swiss Re, in addition to the standard of our new enterprise,” group chief govt Christian Mumenthaler stated in a launch. “The efficiency of P&C Re and Company Options contributed to a stable second quarter.”
In response to Swiss Re, its revenue within the second quarter amounted to US$804 million.
In the meantime group chief monetary officer John Dacey had this to say: “Despite macro-economic volatility, larger rates of interest and steadily growing recurring revenue contributed to an improved funding consequence.
“We now have maintained our very sturdy capital place, which permits us to reap the benefits of engaging enterprise alternatives.”
Swiss Re’s optimistic financials in H1 had been primarily attributed to contained pure disaster losses within the interval, L&H Re’s efficiency returning to pre-pandemic ranges, and a robust consequence for Company Options.
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