Swiss Re manages COVID-19 onset with industry-leading capital position and strong investment result

• Group net loss of USD 225 million reflects the impact of COVID-19, notably a pre-tax charge of USD 476 million for the property and
casualty businesses
• Property & Casualty Reinsurance (P&C Re) net income of USD 61 million, despite losses related to COVID-19
• Life & Health Reinsurance (L&H Re) net income of USD 299 million; return on equity (ROE) of 15.8%
• Corporate Solutions net loss of USD 167 million, impacted by losses related to COVID-19
• Life Capital net loss of USD 261 million, reflecting mark-to-market adjustment for Phoenix Group Holdings plc’s share price
• Strong return on investments (ROI) of 3.2%; running yield of 2.5%
• Successful April 2020 P&C Re renewals: premium volume up 4%; nominal price increase of 8%
• Industry-leading capital position maintained, with Group Swiss Solvency Test (SST) ratio comfortably above 200% as of 31 March 2020

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