Swiss Re Group to achieve net income of $4.8 billion in 2025, up 47% year-on-year

Swiss Re Reports Record 2025 Net Income of $4.8 Billion, Up 47% Year-over-Year

(Zurich, October 2023) — Swiss Re announced that in 2025, the group achieved a net profit of $4.8 billion, a 47% increase compared to the previous year, setting a new record and surpassing the full-year target of over $4.4 billion. The company also took several key measures to further enhance business resilience. It plans to repurchase up to $1.5 billion of its shares in 2026, including $500 million as part of its sustainable annual share repurchase program, and will propose increasing the ordinary dividend to $8.00 per share at the upcoming annual general meeting.

Anders Malmström, Chief Financial Officer of Swiss Re, stated: “After achieving our core objectives in 2025, we are well-positioned to increase shareholder returns through higher dividends and a substantial share repurchase program. This program includes a sustainable annual buyback linked to performance targets, as well as an additional special repurchase amount. The latter reflects the group’s strong capital generation and financial strength, as well as our focus on managing property and casualty insurance rate cycles and enhancing overall resilience.”

The announcement indicated that Swiss Re’s improved performance was mainly driven by strong underwriting profits in the property and casualty reinsurance segment, offset somewhat by the review of its life and health reinsurance portfolio. Specifically, net income from property and casualty reinsurance in 2025 was $2.8 billion, up from $1.2 billion in 2024. The results benefited from lower-than-expected natural disaster losses, resilient business performance, and solid investment returns. Life and health reinsurance net income for 2025 was $1.3 billion (compared to $1.5 billion in 2024), reflecting the impact of the portfolio review conducted in 2025.

Swiss Re Corporate Solutions reported a net income of $988 million in 2025, up from $829 million in 2024. The division continued to deliver strong results, benefiting from stable business performance, lower-than-expected natural disaster claims, and steady investment income. Its combined ratio for 2025 was 86.5%, compared to 89.7% in 2024, achieving the full-year target of below 91%.

Looking ahead, Andreas Berger, CEO of Swiss Re, said: “Our financial targets for 2026 reflect confidence in the resilience, underwriting discipline, and proactive cycle management across all business segments, especially considering the ongoing growth in reinsurance and insurance demand. We are on track to achieve cost efficiency goals and continue to advance our initiatives prudently, creating differentiated value for clients and strengthening our leadership in key markets. As the foundation of our diversified business continues to grow, we are confident in our ability to meet our 2026 and longer-term objectives.”

(Edited by Zhou Wenrui)