MNI BRIEF: Chinese Exports Jeopardise EU Industry--Le Maire

MNI BRIEF: EU's Gentiloni Calls For G7 Coordination On China

MNI: Canada Retails Jump In April After Weak First Quarter

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1102 Fri; -2.68% Y/Y

MNI: BAKER HUGHES US RIG COUNT 600; OIL RIGS 497; GAS RIGS 99

EZ/UK Bond Supply Calendar: EU, Belgium Auction on Monday

EZ/UK T-Bill Calendar: Germany and France To Sell Bills Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Swiss Re: Equity Down, Credit Steady But Has Still Been Key Underperformer YTD

FINANCIALS
Credit BulletsBulletHomepagemarkets-real-timeCredit

Swiss Re equity is worst performer in SXIP index (SREN SW) but credit holding relatively steady.

  • Swiss Re’s CEO announced his exit this morning, to be replaced by the head of Corporate Solutions. This was an unexpected transition but the reporting around it indicates, firstly, 8 years is a long time to be a CEO and, secondly, that the outgoing CEO had done a good job and completed quite a drastic restructuring.
  • The recent results were solid (far better than Swiss Re’s history in many ways) and the January renewals data looks encouraging for future earnings. As such, it’s positive to see the credit holding steady but we continue to note SRENVX’s credit has been a meaningful underperformer YTD.
119 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Swiss Re equity is worst performer in SXIP index (SREN SW) but credit holding relatively steady.

  • Swiss Re’s CEO announced his exit this morning, to be replaced by the head of Corporate Solutions. This was an unexpected transition but the reporting around it indicates, firstly, 8 years is a long time to be a CEO and, secondly, that the outgoing CEO had done a good job and completed quite a drastic restructuring.
  • The recent results were solid (far better than Swiss Re’s history in many ways) and the January renewals data looks encouraging for future earnings. As such, it’s positive to see the credit holding steady but we continue to note SRENVX’s credit has been a meaningful underperformer YTD.