Swiss Re Reports Significant Increase in First-Half Profit

Consolidated net income rose by 9 percent to $2.8 billion in the first six months of the year, Swiss Re announced on Thursday. According to the company, this was partly due to continued “solid” investment performance in a volatile market environment. By contrast, the group’s insurance premium income declined to $20.3 billion from $20.9 billion in the previous year.

The results underscored the strength of the diversified group, CEO Andreas Berger explained in the press release. At the same time, the reinsurer is raising its cost-saving target: It now aims to reduce operating costs by $500 million by 2028, up from the previous target of $300 million by 2027.

In its most important segment, property and casualty reinsurance (P&C Re), the combined ratio improved significantly in the first half of the year to 76.7 percent from 81.1 percent in the same period a year earlier. Meanwhile, in the life business (L&H Re), the reinsurer posted a profit of $1.05 billion in the first six months of 2026 (previous year: $839 million).

The company's results exceeded analysts' forecasts. Analysts had projected (AWP consensus) that the company's net income for the first half of the year would average $2.72 billion.

Based on these results, Swiss Re believes it is well on track to achieve its annual targets. The reinsurer aims to post a profit of “at least $4.5 billion” in 2026. At the same time, the company says it remains vigilant as the hurricane season approaches its peak.