Swiss Re 2025 net income soars 47% driven by P&C growth

Swiss Re has reported nett income of $4.8bn for 2025, an summation of 47% from $3.2bn the twelvemonth before, driven by beardown underwriting results successful spot and casualty (P&C) operations.

Return connected equity roseate to 19.6%, up from 15% successful 2024.

The institution said that the outcomes successful beingness and wellness (L&H) reinsurance were affected by a portfolio review.

The security work effect for 2025 was $5.8bn, a 36% surge from $4.3bn the erstwhile year.

Group security gross fell to $43.1bn from $45.6bn recorded successful 2024.

Net income from the P&C reinsurance conception much than doubled to $2.8bn, up from $1.2bn a twelvemonth earlier.

According to Swiss Re, lower-than-expected ample earthy catastrophe losses and unchangeable concern returns contributed to this result.

Natural catastrophe claims for the twelvemonth stood astatine $813m, chiefly owed to Los Angeles wildfires and Hurricane Melissa, portion man-made losses reached $345m.

P&C Re achieved a combined ratio of 79.4% for 2025, improving from 89.9% successful the anterior twelvemonth and gathering its yearly target.

Corporate Solutions posted nett income of $988m for the year, up 19% from $829m successful 2024.

Losses from large man-made events totalled $351m, portion earthy catastrophe claims were $148m, chiefly from the Los Angeles wildfires.

The division’s combined ratio improved to 86.5%, compared with 89.7% a twelvemonth earlier.

L&H Reinsurance recorded nett income of $1.3bn successful 2025, down from $1.5bn successful 2024 aft completing a portfolio review.

The part missed its targeted nett income of astir $1.6bn.

Swiss Re announced an statement to merchantability its iptiQ Americas business, pending regulatory clearances, and plans to enactment its iptiQ EMEA L&H operations into run-off status.

Earlier this year, Swiss Re completed income of different iptiQ businesses including the Americas Sales Solutions portion via absorption buyout, iptiQ EMEA P&C operations and the Australian arm.

For the coming year, Swiss Re has acceptable a nett income people of $4.5bn for the group.

The committee volition suggest a dividend of $8 per stock for 2025, a 9% summation connected the erstwhile year’s payout.

The institution besides plans to bargain backmost up to $1.5bn worthy of shares by the extremity of 2026, taxable to ineligible and regulatory approvals; this includes a $500m information nether an yearly buyback strategy introduced astatine Swiss Re’s December absorption event.

Swiss Re Group CEO Andreas Berger said: "In 2025 we delivered connected 2 cardinal priorities: achieving our Group fiscal people and strengthening the resilience of the company. Group nett income reached the highest level successful our history, reflecting disciplined underwriting, beardown concern returns and debased ample nonaccomplishment enactment extracurricular of the archetypal quarter.”