Swiss Re earns profit of USD 4.4 billion for 2013

Swiss Re has delivered a net income of USD 4.4 billion for 2013. The result was driven by sustained, high profitability in Property and Casualty Reinsurance and very good performances by Corporate Solutions and Admin Re®.

 Life and Health Reinsurance delivered a reduced profit due to reserve strengthening in Australia. Swiss Re’s Board of Directors will propose a regular dividend of CHF 3.85 per share and, in addition, a special dividend of CHF 4.15 per share. 

Highlights of Performance

• Very strong Group net income of USD 4.4 billion supported by solid underwriting, low levels of natural catastrophe losses and reserve releases 
• Board of Directors to propose regular dividend of CHF 3.85 per share and an additional special dividend of CHF 4.15 per share 
• P&C Re delivers very strong result of USD 3.3 billion, combined ratio of 83.3% 
• L&H Re earns net income of USD 356 million; result impacted by reserve strengthening in Australia 
• Corporate Solutions delivers profitable growth with net income of USD 279 million 
• Admin Re® performs well with net income of USD 423 million and gross cash generation of USD 521 million 
• David Cole appointed as new Group CFO; Susan L. Wagner proposed to be elected to Swiss Re Board of Directors