Swiss Re’s H1 2025 profit jumps 23.8% YoY

Property and Casualty Reinsurance earned $1.2b in net income.

Swiss Re posted a profit of $1.3b in the second quarter of 2025, bringing first-half net income to $2.6b, up 23.8% year-on-year from $2.1b a year earlier. 

Property and Casualty Reinsurance (P&C Re) earned $1.2b in net income, compared with $992m in the first half of 2024. 

Large natural catastrophe claims totalled $556m, mainly from the Los Angeles wildfires, while man-made losses reached $213m.

Corporate Solutions reported $430m in net income, broadly unchanged from $441m a year earlier. 

The combined ratio improved to 88.2% from 88.7%, despite $193m in large man-made losses and $60m in catastrophe losses.

Life and Health Reinsurance (L&H Re) posted $839m in net income, slightly down from $883m a year earlier, due to lower contractual service margin releases, partly offset by reduced adverse experience. 

Insurance revenue fell to $8.0b from $8.5b.

The company is proceeding with its planned withdrawal from iptiQ, completing sales in Australia, the Americas, and Europe.

Swiss Re maintained its full-year targets but cautioned on geopolitical and macroeconomic risks as the hurricane season peaks.