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FINANCIALS: Swiss Re Headlines Positive On Lower Catastrophe Claims

FINANCIALS

Swiss Re (SRENVX: A2/A) headlines look positive; 2Q24 pre-tax is 21% ahead of expectations, driven by a 7pp beat in the P&C combined ratio (lower catastrophe claims). Gross premiums written and shareholders’ equity both appear ahead of consensus, also. Spreads had performed well into these results, so that may cap any tightening, but these figures are credit positive, in our view. 

  • “*SWISS RE 1H NET INCOME $2.09B, EST. $1.96B (2 EST.)
  • *SWISS RE SEES FY NET INCOME ABOVE $3.6B, EST. $3.86B
  • *SWISS RE P&C RE JULY RENEWALS UP 7%“ – BBG

Conf call is 1300 (London time) at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=znUpvfEK 

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