Combined ratio (%)                    115.8       100.5        94.4       93.9 
                    Return on equity                      -12.8       14.9         27.2       27.8 
                    (%, annualised) 
L&H Reinsurance     Net premiums earned and fee income    6 676                    7 518 
                    Net income/loss                       74          516          -119       530 
                    Recurring income yield                3.1                      2.9 
                    (%, annualised) 
                    Return on equity                      1.8         12.4         -3.7       15.5 
                    (%, annualised) 
Corporate Solutions Net premiums earned                   2 473                    2 555 
                    Net income/loss                       -312        75           262        264 
                    Combined ratio (%)                    118.7       98.8         92.7       92.6 
                    Return on equity                      -26.2       5.8          21.1       21.2 
                    (%, annualised)

Details of H1 2021 COVID-19 losses in USD millions 


H1 2021               P&C Reinsurance L&H Reinsurance Corporate Solutions Group items Total 
Event cancellation    24                              -37                             -13 
Business interruption 12                              20                              32 
Credit & surety       -5                              7                               2 
Mortality                             820             9                   10          839 
Other lines           18              -10             2                               10 
Total                 49              810             1                   10          870

Media conference call

Swiss Re will hold a virtual media conference this morning at 10:30 CEST. You can join the media conference via your computer or Teams mobile app here: Microsoft Teams Meeting. Alternatively, you can dial in (audio only) using the below numbers and conference ID:

Conference ID: 368 306 361#

Switzerland: +41 (0) 43 210 5761

United Kingdom: +44 (0) 20 3443 6271

Germany: +49 (0)69 3650 5756 8

France: +33 (0)1 7037 8776

Hong Kong: +852 3704 2823

For additional local dial-in numbers, please click here.

Investor and analyst conference call

Swiss Re will hold an investors' and analysts' conference call at 14:00 CEST, which will focus exclusively on Q&A. You are kindly requested to dial into the conference call 10-15 minutes prior to the start using the following numbers:

Switzerland: +41 (0) 58 310 5000

United Kingdom: +44 (0) 207 107 0613

United States: +1 (1) 631 570 5613

Germany: +49 (0) 69 5050 0082

France: +33 (0) 1 7091 8706 -----------------------------------------------------------------------------------------------------------------------

[1] Assumes an average large natural catastrophe loss burden and excludes prior-year reserve development as well as the COVID-19 impact.

[2] For Corporate Solutions, H1 2020 has been revised from the originally reported net loss of USD 301 million to a net loss of USD 312 million to reflect the results of elipsLife, which as of 1 January 2021 is reported as part of Corporate Solutions following the disbandment of the Life Capital Business Unit at the end of 2020.

[3] Excludes elipsLife.

[4] Assumes an average large natural catastrophe loss burden and excludes prior-year reserve development as well as the COVID-19 impact.

[5] Calculated as net income before tax expense with operating expenses, other overheads and net realised investment gains/losses removed; gross of reinsurance.

[6] For Corporate Solutions, H1 2020 has been revised to reflect the results of elipsLife, which as of 1 January 2021 is reported as part of Corporate Solutions following the disbandment of the Life Capital Business Unit at the end of 2020.

[7] This column is for reference only and excludes the impact of the reserves established for COVID-19-related claims, including estimated tax impacts.

For further information please contact Swiss Re Media Relations: + 41 (0)43 285 7171 or Media_Relations@Swissre.com. Please use this link to access the Swiss Re website.

Swiss Re The Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk - from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally.

Cautionary note on forward-looking statements Certain statements and illustrations contained herein are forward-looking. These statements (including as to plans, objectives, targets, and trends) and illustrations provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical fact or current fact. Further information on forward looking statements can be found in the Legal Notice section of Swiss Re's website. -----------------------------------------------------------------------------------------------------------------------

End of Media Release ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      Swiss Re Ltd 
              Mythenquai 50/60 
              8022 Zurich 
              Switzerland 
Phone:        +41 (0) 43 285 71 71 
E-mail:       Media_Relations@swissre.com 
Internet:     www.swissre.com 
ISIN:         CH0126881561 
Valor:        12688156 
Listed:       SIX Swiss Exchange 
EQS News ID:  1222895 
 
End of News   EQS Group News Service 
=------------

1222895 2021-07-30


 
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July 30, 2021 01:01 ET (05:01 GMT)