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27 February 2025Reinsurance

Swiss Re P&C profit slumps 20% as casualty reserving strain takes toll

Swiss Re's property and casualty (P&C) reinsurance business saw its profit plummet by 20% in 2024, as the division shot way over its 2024 combined ratio target. The decline was driven by the reserving actions taken against worsening conditions in US liability in the second half of the year.

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