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Swiss Re reports a net income of USD 157 million for the first half of 2022, with Q2 profit of USD 405 million

29 July 2022 Swiss Re

Ad hoc announcement pursuant to Article 53 LR

• Property & Casualty Reinsurance (P&C Re) H1 2022 net income of USD 316 million; combined ratio of 98.5% and normalised[1] combined ratio of 95.8%
• Successful P&C Re July 2022 renewals; price increase of 12%
• Life & Health Reinsurance (L&H Re) H1 2022 net income of USD 2 million; strong Q2 net income of USD 232 million
• Corporate Solutions H1 2022 net income of USD 220 million; combined ratio of 93.2%
• Return on investments (ROI) of 1.2% in H1 2022, reflecting negative mark-to-market impacts on listed equity investments
• Very strong Group SST ratio above the target range of 200–250%

Swiss Re returned to profitability in the second quarter of 2022, with a net income of USD 405 million. After the first quarter was marked by negative impacts from the financial market downturn, the COVID-19 pandemic and reserving for the war in Ukraine, this resulted in a net income of USD 157 million for the first half of 2022.

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