Swiss Re shares rise after 2025 targets, bigger-than-expected div growth

Hannover Rueck SE

13/12/2024 09:01

** Swiss reinsurer Swiss Re  SRENH.S  rise 2.8% after the
company released 2025 guidance, including a 7% dividend growth
target for the next three years
    ** Swiss Re also targets net income of $4.4 billion for
2025, in line with LSEG poll of $4.42 bln
    ** Barclays sees the dividend target as a positive surprise,
as it's above its estimate of 4%
    ** Barclays adds the Swiss Re's targets are "slightly on the
conservative side"    
    ** "The shares should close their valuation gap with Munich
Re  MUVGn.DE  and Hannover Re  HNRGn.DE , assuming Swiss Re now
consistently delivers earnings," Vontobel says
    ** It adds that with the recent $2 billion net reserve
addition, "the only negative in Swiss Re's equity story has been
addressed"    
    ** Friday's rise boosts the stock's YTD gains to about 38.5%

 (Reporting by Bernadette Hogg)
 ((bernadette.hogg@thomsonreuters.com))