Insurance Swiss Re increases quarterly profit despite significant major losses
Swiss Re increased its quarterly profit in the first quarter of 2025 despite the impact of the wildfires in California. The reinsurance group is confident with regard to its annual targets.
16.05.2025, 07:15
SDA
Group profit for the first three months increased to 1.3 billion dollars compared to the same period of the previous year, as Swiss Re announced on Friday. By contrast, the Group's insurance turnover fell to 10.4 billion dollars after 11.7 billion in the previous year.
The first quarter of 2025 was characterized by significant major losses for the property and liability lines of business, according to the statement. Nevertheless, all business units achieved robust results. The total burden of major losses in the division amounted to 570 million dollars, with the Los Angeles wildfires accounting for the lion's share.
In property and casualty reinsurance (P&C Re), the combined ratio amounted to 86.0 percent after 84.7 percent in the previous year. In life business (L&H Re), meanwhile, the reinsurer generated a profit of 439 million dollars in the first three months of 2025 (previous year: 412 million).
With its quarterly result, Swiss Re clearly exceeded the expectations of analysts surveyed by the news agency AWP. On average, they had estimated the quarterly profit at 985 million dollars.
Swiss Re is confident for the full year 2025. Despite the challenging environment, the Group is confident about its targets for 2025.
