Swiss Re reported a net income of USD 3.2 billion in 2024, with a net income of USD 1.1 billion for the fourth quarter and a return on equity (ROE) of 15.0% for the full year. The Board of Directors will propose a dividend of USD 7.35 per share, the company said in its press release.

The key takeaways of the report include:

• Property & Casualty Reinsurance (P&C Re) net income of USD 1.2 billion; combined ratio of 89.9%
• Corporate Solutions net income of USD 829 million; combined ratio of 89.7%
• Life & Health Reinsurance (L&H Re) net income of USD 1.5 billion
• Return on investments (ROI) of 4.0%; recurring income yield of 4.0% 
• P&C Re increased premium volume by 7.0% in the January 2025 renewals, achieving price increases of 2.8% 
• Strong capital position with a Group Swiss Solvency Test (SST) ratio above the target range as of 1 January 2025
• Board of Directors to propose a dividend increase of 8% to USD 7.35 per share at the Annual General Meeting on 11 April 2025.

"Our focus in 2024 was on profitability and resilience. Our results for the period reflect this and show that we are on the right track: we have delivered strong net income and ROE, while achieving our goal of positioning overall P&C reserves at the higher end of our best-estimate range", commented Swiss Re's Group Chief Executive Officer Andreas Berger.

"The strong underlying Business Unit performance is being supported by continued underwriting discipline and recurring investment income. The Group's earnings power, combined with the reserving actions taken in 2024, give us confidence to increase the pay-out to investors by proposing an 8% higher ordinary dividend of USD 7.35 per share", said Swiss Re's Group Chief Financial Officer John Dacey.

The full report can be found here.