Swiss Re slips into red on big losses, CEO ‘disappointed’ on target miss

28-10-2022

Swiss Re slips into red on big losses, CEO ‘disappointed’ on target miss

 Global reinsurer Swiss Re has clocked losses in the first nine months, turning around the $1.3 billion profit earned in the same period of 2021, driven by an unprecedented confluence of headwinds that significantly battered its P&C Re results, despite positive momentum in Corporate Solutions and L&H Re business. Its chief executive Christian Mumenthaler (Pictured) expressed disappointment that the business will not meet its target this year but cited strong capital position and rising recurring investment income as cause for optimism for its mid-term outlook.


Swiss Re, Christian Mumenthaler, Financial results, Losses, Catastrophe losses, P&C, Reinsurance, Global, Europe

Intelligent Insurer