Swiss Re AG (STU:SR9A)

€ 35 0 (0%) Market Cap: 40.66 Bil Enterprise Value: 45.40 Bil PE Ratio: 12.84 PB Ratio: 1.92 GF Score: 65/100

Q3 2023 Swiss Re AG Earnings Press Conference Transcript

Nov 03, 2023 / 07:30AM GMT

Release Date Price: €25.2 (-2.33%)

Transcript

Monika Sasse

Welcome to our media conference call on the 9 months results for 2023. I'm Monika Sasse from the Media Relations and Corporate Reporting team, and I'm joined today by our Group CFO, John Dacey, who will give you a brief overview of our results and then answer your questions.

John, please over to you.

John Robert Dacey

Swiss Re AG - Group CFO

Thank you, Monika, and good morning to everyone on the call. In the first 9 months of 2023, Swiss Re achieved a strong result. Net income for the period stood at USD 2.5 billion compared to a loss of $285 million in the first 9 months of 2022. This is a significant improvement to which all our businesses contributed. For the third quarter, the group reported a profit of $1 billion.

Thanks to our underwriting quality and disciplined renewals, we were able to further strengthen our resilience in a challenging environment. The improved performance was supported by a further rise in interest rates, which has a positive impact on the recurring income yield and thus on our overall investment results. We

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