Swiss Re reported a net income of USD2.8 billion for the first half of 2026, representing more than 60% of its full-year target of USD4.5 billion. The Group achieved a return on equity of 23%, driven by strong underwriting results across all three core businesses. P&C Reinsurance posted a combined ratio of 76.7%, well below its full-year target of below 85%, supported by low large natural catastrophe losses and favorable reserve releases. Life & Health Re net income was just over USD1 billion, with an insurance service result of USD1.2 billion, while Corporate Solutions delivered a combined ratio of 86.1% and an insurance service result of USD578 million. The company increased its operating cost reduction target to USD500 million by 2028 and maintained a very strong capital position with an estimated group SST ratio of 264%, comfortably above its target range.
Swiss Re AGH1 net income of USD2.8B exceeds 60% of full-year target, with strong underwriting results and raised cost reduction target.
