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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Swiss Re    SREN   CH0126881561

SWISS RE

(SREN)
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Delayed Quote. Delayed Swiss Exchange - 03/27 12:30:50 pm
70.68 CHF   -1.01%
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Swiss Re : 2019 Net Profit Rose, Raises Dividend

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02/20/2020 | 02:42am EDT

By Cristina Roca

Swiss Re AG said Thursday that its 2019 net profit rose strongly, and increased its dividend.

Net profit for the year was $727 million, up strongly from the previous year's $421 million net profit, the Swiss reinsurer said. Analysts had seen net income at $1.25 billion, according to a consensus estimate provided by FactSet.

Net premiums rose to $38.59 billion from $36.41 billion in 2018.

Net profit rose 7% at the company's property-and-casualty arm, even though the business was hit by $2.7 billion losses. These came from natural catastrophes--typhoons in Japan, Hurricane Dorian in the Atlantic and wildfires, floods and hailstorms in Australia-- as well as the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX fleet, among other causes.

Swiss Re's life-and-health business increased net profit by 18%, while its corporate solutions and life capital units were loss-making in 2019.

The Zurich-based company will propose a dividend of 5.90 Swiss francs ($6.00) a share, up from CHF5.60 the year prior. It will also propose a CHF1 billion buyback program, it said.

"We are starting 2020 with an improved quality of our portfolio, underpinned by strong January renewals and pricing momentum," Swiss Re Group Chief Executive Christian Mumenthaler said.

The company said that for 2020, it will focus on completing the sale of its ReAssure business, whose listing plans it shelved earlier this year. Swiss Re will also focus on turning around its corporate solutions arm through portfolio pruning and rate increases, it said.

Swiss Re also named Jonathan Isherwood chief of its reinsurance Americas unit. He will succeed Eric Smith, who is retiring. Mr. Isherwood will take up the new role on April 1 and will also become regional Americas president and join the company's executive committee on Aug. 14.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) -10.27% 162 Delayed Quote.-44.58%
SWISS RE -1.01% 70.68 Delayed Quote.-34.98%
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Financials (USD)
Sales 2020 41 421 M
EBIT 2020 3 000 M
Net income 2020 2 225 M
Debt 2020 2 851 M
Yield 2020 8,39%
P/E ratio 2020 9,15x
P/E ratio 2021 7,73x
EV / Sales2020 0,59x
EV / Sales2021 0,58x
Capitalization 21 593 M
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Technical analysis trends SWISS RE
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 98,16  $
Last Close Price 74,29  $
Spread / Highest target 66,9%
Spread / Average Target 32,1%
Spread / Lowest Target -29,3%
EPS Revisions
Managers
NameTitle
Christian Mumenthaler Group Chief Executive Officer
Walter Bruno Kielholz Chairman
Anette Bronder Group Chief Operating Officer
Pravina Ladva Co-Chief Operations & Technology Officer
John Robert Dacey Group Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
SWISS RE-34.98%21 482
MUENCHENER RUECKVERSICHERUNG AG-28.97%28 349
HANNOVER RÜCKVERSICHERUNG-21.65%17 383
EVEREST RE GROUP, LTD-31.62%7 726
RENAISSANCERE HOLDINGS LTD.-24.02%6 587
REINSURANCE GROUP OF AMERICA, INCORPORATED-51.64%4 860