Swiss Re suffers $248m net loss in Q1

The firm logged a ROE of –4.6%.

Swiss Re suffered a $248m loss in profits in the first quarter of 2022, impacted by the war in Ukraine, heightened financial market volatility and the ongoing COVID-19 pandemic.

The firm reported a return of equity (ROE) of -4.6% for Q1. This was a huge drop from its net income of $333m and ROE of 5.2% for the same period in 2021.

The group said it absorbed higher-than-expected large natural catastrophe claims of $524m across its property and casualty businesses as well as COVID-19 claims of $515m. In addition, Swiss Re booked $283m in reserves related to the war in Ukraine.

Swiss Re, however, reported a growth in net premiums earned and fee income for the group by 4% compared to last year to $10.6b in Q1

Swiss Re's return on investments of 0.7% was impacted by equity mark-to-market losses as well as modest losses on Russia-related exposures. The recurring income yield of 2.1% demonstrates the quality and stability of the underlying asset portfolio.

According to the insurer, its capital position remained very strong, with the group Swiss Solvency Test (SST) ratio in the upper half of the 200–250% target range as of 1 April 2022.

You may also like:

Singapore risks protection gap for older population

520,944 properties in Australia to be uninsurable by 2030

Coface appoints new APAC chief

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Top three things killing the insurance industry
Thanks to these threats, 54% of insurers had an ROE below their cost of equity.
How Emma transforms AXA Mandiri's digital strategies
Emma is an all-in-one digital platform that meets the customers' needs, from purchasing an insurance policy to booking gym classes.