Swiss Re renews its medium-term financial objectives on Friday, as a preamble to its day dedicated to investors. In the worst case, the remuneration of shareholders must stagnate.
The reinsurer took the opportunity to indicate that it was following a proactive provisioning strategy to deal with the pandemic.
The combined ratio in Property and Casualty Reinsurance should be at most improved to 96% from next year, once adjusted for the impact of Covid-19 and extraordinary natural disasters. This indicator should not exceed 98% at Corporate Solutions, said a press release. The group does not put forward specific objectives for its health and provident activities (Life and Health Reinsurance), but ensures that these display a robust dynamic despite the pandemic, in Asia in particular.
Low interest rates did not prevent institutional investors from posting “robust” returns in 2020, in a “volatile” market environment. The sale of the Reassure subsidiary to the Phoenix group for 3.25 billion pounds in mid-June (3.93 billion francs at the current rate) significantly reduced the risk profile.
The Zurich-based multinational also values its white-label digital insurance service provider Iptiq at around $ 2 billion. Now distributed by forty partners, these products represent a volume of bonuses of 300 million dollars.