ZURICH / LONDON (IT BOLTWISE) – Swiss reinsurer Swiss Re has posted an impressive profit jump in the first nine months of the year, despite the costly wildfires in California. With a profit of over four billion US dollars, the company significantly exceeded analysts’ expectations. Nevertheless, Swiss Re recorded a five percent decline in reinsurance revenue.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
Swiss reinsurer Swiss Re has recorded a remarkable jump in profits in the first nine months of the year. Despite the significant damage caused by the California wildfires, the company was able to generate profits of over $4 billion, an increase of 85 percent compared to the previous year. Swiss Re boss Andreas Berger sees this positive development as confirmation that the company is well on its way to achieving its annual target of more than $4.4 billion.
Swiss Re’s impressive numbers significantly exceeded analysts’ average expectations. In recent days, other major reinsurers such as Munich Re and Hannover Re have also reported high profits from the third quarter. Hannover Re then raised its profit target for 2025, and the Munich primary insurer Allianz also adjusted its forecasts.
Despite the positive profit development, Swiss Re reported a five percent decline in reinsurance revenue to around $32 billion in the first nine months. This development shows that the reinsurance market remains challenging, particularly given the increasing frequency and intensity of natural catastrophes.
Swiss Re shares reacted to the news with a temporary decline of 3.18 percent to 147.95 francs. This could indicate that despite the strong earnings results, investors are concerned about the long-term challenges in the reinsurance market. The industry is faced with the task of adapting to changing climatic conditions while remaining profitable.
Order an Amazon credit card without an annual fee with a credit limit of 2,000 euros!
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Swiss Re achieves jump in profits despite falling revenues”.