Switzerland's Swiss Re Q1 net income rises 19%, insurance revenue falls 4%

Swiss Re AG

07/05/2026 06:25

Overview

Switzerland reinsurance group's Q1 net income rose 19% yr/yr to $1.5 bln

Q1 insurance revenue fell 4%, mainly due to lower P&C reinsurance volumes and iptiQ withdrawal

Company benefited from low natural catastrophe losses and strong investment income

Outlook

Swiss Re targets P&C Re full-year combined ratio of less than 85%

Corporate Solutions aims for full-year combined ratio below 91%

L&H Re targets 2026 net income of USD 1.7 bln

Result Drivers

DISCIPLINED UNDERWRITING - Co said P&C Re and Corporate Solutions results were driven by disciplined underwriting and low large-loss experience

FAVOURABLE US MORTALITY - L&H Re net income was supported by favourable US mortality experience and underwriting margins

STRONG INVESTMENT INCOME - Co said strong investment income, including realised gains from real estate sales, contributed to Q1 results

Company press release: ID:nEQbmJWDha

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
$1.50 bln
Q1 ROE
23.60%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 10 "hold" and 6 "sell" or "strong sell"

The average consensus recommendation for the reinsurance peer group is "buy."

Wall Street's median 12-month price target for Swiss Re AG is CHF130.00, about 1.2% above its May 6 closing price of CHF128.40

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)