The Swiss reinsurer rebounded to profits in 2021 after suffering a loss in the previous year due to Corona.
Swiss Re made a $1.4 billion profit last year, after posting $878 million loss in 2020, it said in a statement Friday. In line with its targets, Swiss Re achieved a combined ratio of 97.1 percent and a normalized combined ratio of 94.7percent.
Results were driven by its property and casualty reinsurance business, while its life and health unit was hit by COVID-related losses.
Ambitious Targets
The reinsurer has set targets to increase the group's return on equity to 10 percent in 2022 and 14 percent in 2024.
A dividend of CHF 5.90 per share will be proposed at the annual general meeting.
«2021 marked an important turning point for Swiss Re. Despite still major COVID-19 impacts and a high occurrence of large natural catastrophe events throughout the year, we rebounded to a USD 1.4 billion profit,» Swiss Re’s Group CEO Christian Mumenthaler said in the statement.
