(Finance) – Swiss Rethe Swiss insurance and reinsurance giant, has announced its goals for 2025including a Group net profit of over 4.4 billion dollars. The Group also aims to increase the ordinary dividend per share by 7% or more per year over the next three years and maintains its multi-year IFRS ROE target of more than 14%.
“We have taken decisive steps in 2024 to increase the resilience of our business – commented the CEO Andreas Berger -We achieved our goal of placing overall P&C reserves at the high end of the best estimate range. We have refocused on our core capabilities, have made good progress in withdrawing from iptiQ and are aligning our commission generation business across the Group.”
“Looking to 2025, we expect P&C reinsurance prices to remain strongwith growing demand for protection driven by a high-risk environment,” he added, “Commercial insurance prices are stabilizing at attractive levels, as the growing life insurance market and favorable mortality experience in the U.S. are supporting L&H Re’s performance. This is supported by a significant positive contribution from investment income. With a continued focus on disciplined underwriting and costs, Swiss Re is well positioned to benefit from this favorable outlook.”
Swiss Re expects that its continued focus on cost discipline and efficiency will lead to a reduction of operating expenses fully operational of approximately $300 million by 2027.