Swiss Re targets over $3.6b FY24 net income, bags $2.1b in H1

EPS for the period was $6.97.

Swiss Re reported a second quarter (Q2 2024) profit of $996m, contributing to a net income of $2.1b for the first half of the year (H1 2024), driven by “disciplined” underwriting, low natural catastrophe claims, and robust investment income.

Earnings per share stood at $6.97, previously $5.87. Its H1 2024 net income was 16.8% higher on a year-on-year (YoY) basis. 

Return on equity (ROE) thus stood at 20.1%. Swiss Re's insurance revenue for H1 2024 totalled $22.5b, with an insurance service result of $2.9b. 

Swiss Re's Group CEO, Andreas Berger, confirmed that despite a challenging macroeconomic and geopolitical environment, the company maintains its 2024 targets, including a group net income of over $3.6b.