Swiss Re reports $4bn net income for 9M 2025

Core Insights - Swiss Re reported a net income of $4 billion for the first nine months of 2025, marking an 85% increase from $2.2 billion in the same period last year, primarily driven by improved underwriting results in the property and casualty reinsurance segment [1][4] - The company's insurance service result reached $4.8 billion, a 64% increase compared to $2.9 billion in the prior-year period, despite a 5% decrease in total insurance revenue to $32 billion from $33.7 billion [1][2] Financial Performance - Return on investments rose to 4.1% from 3.9%, supported by higher recurring income and proceeds from divesting a minority equity position in Q1 [2] - The property and casualty reinsurance division recorded a net profit of $2.3 billion, up from $607 million last year, aided by fewer large natural catastrophe losses in Q2 and Q3, with large natural catastrophe claims for the period totaling $611 million, primarily linked to wildfires in Los Angeles [2][3] - The Corporate Solutions division achieved a net income of $693 million through September, a 10% increase from $630 million a year earlier, while the Life & Health reinsurance segment posted a net income of $1.05 billion, down 12% from $1.2 billion last year due to weaker underwriting outcomes [3] Strategic Outlook - Swiss Re's CEO emphasized two priorities: delivering on financial targets and increasing the resilience of the Group, with results reflecting these priorities [4] - The company is on track to meet its Group net income target of over $4.4 billion for the full year and combined ratio targets for both property and casualty businesses, supported by strong performance in the first nine months of 2025 [5]