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Swiss Re Annual Report ‘23

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Property & Casualty Reinsurance

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Annual Report


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Letter To Shareholders

"Swiss Re can look back on a successful year as it achieved all of its 2023 financial targets."

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Vision and strategy
Vision and strategy

We make the world more resilient

Cathy Desquesses discusses Swiss Re's people strategy – an integral part of how we are making the world more resilient.

Our vision and strategy
Market Context
Market Context

Swiss Re navigates a complex and changing external landscape

Velina Peneva discusses the current market trends and economic forces shaping Swiss Re's strategy.

Our market context
Sustainability

Swiss Re's Sustainability Report

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Swiss Re's Sustainability Report outlines our comprehensive sustainability strategy.

Our 2023 Sustainability Report

Read about Swiss Re's Business Units

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Property & Casualty Reinsurance

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Life & Health Reinsurance

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Corporate Solutions

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Global Clients & Solutions

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Annual Report 2023

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Financial Report

Financial Report (1)

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Sustainability Report

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Business Report

Business Report

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Financial Report

Financial Report (1)

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Sustainability Report

Sustainability Report (1)

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Group Results 2023

Group net income (USD)

3.2

billion
Group net premiums earned and fee income (USD)

45.0

billion
Group return on equity

22.3

%
Proposed ordinary dividend per share for 2023 (USD)

6.80

Group Swiss Solvency Test (SST) ratio as of 1 January 2024

306

%
Return on investments

3.4

%

Group financial targets

IFRS net income for 2024 (USD)

>3.6

billion
Multi-year IFRS return on equity

>14

%

Business Units

P&C Re net income 2023 (USD)

1.9

billion
L&H Re net income 2023 (USD)

976

million
Corporate Solutions net income 2023 (USD)

678

million
P&C Re net premiums earned 2023 (USD)

22.9

billion
L&H Re net premiums earned and fee income 2023 (USD)

15.6

billion
Corporate Solutions net premiums earned 2023 (USD)

5.5

billion

Business Unit targets for 2024

P&C Re IFRS combined ratio target for 2024

<87%

L&H Re IFRS net income target for 2024 (USD)

∼1.5 bn

Corporate Solutions IFRS combined ratio target for 2024

<93%

Financial Strength Ratings

Standard & Poor's (as of 1 November 2023)

AA–

(very strong)
Moody's (as of 18 December 2023)

Aa3

(excellent)
AM Best (as of 6 September 2023)

A+

(superior)

People and locations

Total regular employees as of 31 December 2023

14 719

Number of Swiss Re offices worldwide

78