Swiss Re has set ambitious financial targets for 2025, aiming for a Group net income exceeding USD 4.4 billion. The company also plans to increase its ordinary dividend per share by at least 7% annually over the next three years and maintains a multi-year IFRS return on equity target of more than 14%.
Andreas Berger, Swiss Re's Group Chief Executive Officer, stated: "We have taken decisive actions in 2024 to increase the resilience of our business. We achieved our goal of positioning overall P&C reserves at the higher end of the best-estimate range. We refocused on our core capabilities, made good progress on the withdrawal from iptiQ and are aligning our fee-generating business across the Group."
Berger added that Swiss Re expects strong pricing in P&C reinsurance due to increased demand driven by an elevated risk environment. He noted that commercial insurance pricing is stabilizing at attractive levels, while growth in the life insurance market and favorable mortality experience in the US support L&H Re's performance.
All business units are targeting improved results for 2025 compared to 2024. Life & Health Reinsurance (L&H Re) aims for a net income of USD 1.6 billion, Property & Casualty Reinsurance (P&C Re) targets a combined ratio below 85%, and Corporate Solutions seeks a combined ratio under 91%.
Swiss Re anticipates reducing run-rate operating expenses by approximately USD 300 million by 2027 through ongoing cost discipline and efficiency measures.
The company's management will discuss these financial targets during the Management Dialogue 2024 event, which includes a Q&A session with executives.
Swiss Re is one of the world's leading providers of reinsurance and insurance-based risk transfer solutions. Headquartered in Zurich, Switzerland, it operates globally through around 80 offices.
The company issued a cautionary note regarding forward-looking statements, indicating that certain expectations are based on assumptions about future events.