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

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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