(News Bulletin 247) – Despite a difficult first nine months and an announced net loss of $285 million for this period, Swiss Re finally posted a net profit of $472 million in 2022, generating a net profit of $757 million. dollars in the fourth quarter.
Over the full year, the Swiss reinsurance group reported a return on equity (ROE) of 2.6%.
Figures far removed from its performance in 2021, which saw the company record net income of $1.4 billion and a return on equity of 5.7%.
“2022 has been a difficult year, marked by the war in Ukraine, galloping inflation, the end of the COVID-19 pandemic and losses linked to natural disasters”, acknowledges managing director Christian Mumenthaler.
According to the business leader, the group has been able to maintain its “very strong capital position” and “take advantage of attractive market conditions during the January contract renewals”.
Evoking a still very strong capital position, Swiss Re intends to offer its shareholders a dividend of 6.40 dollars per share.
For 2023, the group says it is aiming for net profit of more than $3 billion, supported by successful P&C Re renewals, an expected decline in COVID-19 claims, higher interest rates and cost discipline.
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