Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Swiss Re Ltd
  6. News
  7. Summary
    SREN   CH0126881561


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Swiss Re : Global insurance recovery will be faster, stronger than in 2008 -Swiss Re

07/23/2021 | 06:18pm EDT
FILE PHOTO: The logo of insurance company Swiss Re is seen in front of its headquarters in Zurich

NEW YORK (Reuters) - The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss Re AG's chief Americas economist said on Friday.

Unlike the prior crisis, the pandemic did not weaken insurers' overall capitalization or financial strength, which allows companies to write new coverage and increase revenue, economist Thomas Holzheu told Reuters.

Writing new policies was more difficult in 2009 and 2010 when insurers were reeling from capital losses, slow economic growth and depleted incomes of companies and individuals.

In contrast, businesses and individuals now have more money from government stimulus and support programs, and are more conscious of the need to buy protection against risks, he added.

"We see a much stronger, more resilient demand for insurance - last year, this year, and we expect for the next few years - compared with the financial crisis, when the industry was a part of the financial markets issues," he said.

Swiss Re's view aligns with other bullish signs. Global commercial insurance prices, for example, rose 18% in the first quarter of 2021 from a year earlier, on average, insurance broker Marsh McLennan Cos Inc said in May. Rates have risen since late 2017.

Swiss Re said it expects annual growth for all premiums, not just commercial, to reach 3.3% this year and 3.9% in 2022, after falling just 1.3% last year. That compares with a 3.7% decline in 2008, during the financial crisis, and a slower rebound of 0.5% and 2.1% in 2009 and 2010, respectively.

Sector bellwether Travelers Companies Inc on Tuesday beat second-quarter Wall Street estimates by more than $1.00 a share.

Other large U.S. insurers are due to report results over the next two weeks.

(Reporting by Alwyn Scott in New York; Editing by Matthew Lewis)

By Alwyn Scott

© Reuters 2021
All news about SWISS RE LTD
05:30aSWISS REINSURANCE COMPANY : UBS remains a Sell rating
09/14SWISS RE : enters partnership with BlaBlaCar and L'olivier Assurance to launch i..
09/14Swiss Re enters partnership with BlaBlaCar and L'olivier Assurance to launch ..
09/14Swiss Re Enters Partnership with BlaBlaCar and L’Olivier Assurance to Launch ..
09/10SWISS REINSURANCE COMPANY : Buy rating from Barclays
09/10NEWS HIGHLIGHTS : Top Financial Services News of the Day
09/09SWISS REINSURANCE COMPANY : Buy rating from Berenberg
09/09EUROPEAN MIDDAY BRIEFING : Stocks Under Pressure Ahead of ECB
09/09SWISS RE : Global non-life premiums to rise 10% above pre-pandemic levels this y..
09/09SWISS RE : Expects Non-Life Insurance Premiums by 2021-End to Top Pre-Pandemic L..
More news
Analyst Recommendations on SWISS RE LTD
More recommendations
Financials (USD)
Sales 2021 42 008 M - -
Net income 2021 2 076 M - -
Net Debt 2021 6 429 M - -
P/E ratio 2021 11,5x
Yield 2021 8,14%
Capitalization 23 297 M 25 028 M -
EV / Sales 2021 0,71x
EV / Sales 2022 0,69x
Nbr of Employees 13 605
Free-Float 90,7%
Duration : Period :
Swiss Re Ltd Technical Analysis Chart | SREN | CH0126881561 | MarketScreener
Technical analysis trends SWISS RE LTD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Last Close Price 80,62 $
Average target price 100,88 $
Spread / Average Target 25,1%
EPS Revisions
Managers and Directors
Christian Mumenthaler Group Chief Executive Officer
John Robert Dacey Group Chief Financial Officer
Sergio P. Ermotti Independent Non-Executive Chairman
Anette Bronder Group Chief Operating Officer
Guido Fürer Group Chief Investment Officer
Sector and Competitors