Swiss Re significantly increases half-year profit

Group profit increased by 24 percent to 2.6 billion dollars in the first six months of the year, as Swiss Re announced on Thursday. However, the Group's insurance turnover fell to 20.9 billion dollars after 22.2 billion in the previous year.

The Group achieved robust underwriting margins in all business units, explained CEO Andreas Berger in the press release. Customers were supported in managing peak risks, particularly in the first half of the year. Support was provided by a solid investment result.

The reinsurer's result exceeded analysts' forecasts. On average, they had predicted Group profit of 2.48 billion dollars for the first half of the year.

With these results, Swiss Re considers itself well on the way to achieving its annual targets. The Group aims to achieve a profit of "at least 4.4 billion dollars" by 2025. In view of the general geopolitical and macroeconomic uncertainty, however, the Group remains vigilant, especially as the peak of the storm season is now approaching.