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With the planned change in accounting from US GAAP to IFRS at the beginning of 2024, Swiss Re expects “better visibility of profitability” and higher shareholders’ equity, as the group announced ahead of Investor Day.
Swiss Re expects consolidated profit at group level to exceed $3.6 billion in 2024. The reinsurer wants to make a profit of over $3 billion in 2023. The return on equity target set for several years is above 14 percent.
Life and health reinsurance (L&H Re) is expected to make a much larger contribution to profits, at $1.5 billion in the future, compared to $900 million targeted for this year. Swiss Re is also setting a higher target for property and liability reinsurance (P&C Re). The target is for the overall rate to be less than 87 percent. This year it is 95 percent.
The group also promises that Swiss Re will remain true to its capital management priorities and return to sustainable dividend growth.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
