Swiss Re AG · SIX:SREN
Swiss Re — Investor Presentation (2023)
26 slides from Swiss Re's investor presentation, Nov 29, 2023
Slide 1: Swiss Re – Leading Global Re/Insurer
Swiss Re – Leading Global Re/Insurer Company presentation 2023
Slide 2: Group strategy and targets
— Group strategy and targets
Slide 3: Swiss Re in a nutshell
Swiss Re in a nutshell A truly global and diversified reinsurer… … with profitable long-term growth Group financial targets >▪ Premium1 CAGR of ~5% p.a. over 2013- Asia 2022 14% 18% >▪ Market nominal CAGR of ~3-4% p.a. expected over 2024-20272 USD 43bn1 51% Americas Return on equity3 31% EMEA … with
Slide 4: Reinsurance is entering a more conducive market environment
Reinsurance is entering a more conducive market environment – not seen for over a decade > While several macroeconomic, geopolitical and environmental challenges persist, the operating environment for reinsurers is materially more positive than in the past few years, driven by three principal factor
Slide 5: We are committed to delivering our financial targets
We are committed to delivering our financial targets 2023 financial targets Multi-year Group targets P&C Reported combined ratio <95% 14% Reinsurance Return on equity2 L&H Reinsurance Net income USD ~900m in 2024 Corporate Solutions Reported combined ratio <94% 10% ENW per share Swiss Re growth3 per
Slide 6: Swiss Re’s capital management priorities remain unchanged
Swiss Re’s capital management priorities remain unchanged Swiss Re’s capital management priorities remain unchanged Group SST ratio1 development 294% Ensure superior capitalisation Grow the regular dividend at all times and maximise with long-term earnings, and financial flexibility at a minimum mai
Slide 7: Strong dividend and capital repatriation track record
Strong dividend and capital repatriation track record Dividends and share buyback per share (year paid) Ordinary dividends (CHF) Ordinary dividends (USD) Special dividends and share repurchases (CHF) 9.20 8.65 8.70 8.00 8.25 7.90 4.20 3.10 6.50 6.40 4.40 3.40 5.90 5.90 3.30 0.601 4.15 5.90 5.90 5.90
Slide 8: About us
About us
Slide 9: About us
About us We are one of the world’s leading providers of Today, 75% of risks – from reinsurance, insurance and natural catastrophes and other forms of insurance- climate change, to ageing based risk transfer. Through populations and cybercrime our work with clients we fulfil – remain uninsured. our v
Slide 10: About us
About us Headquartered in Zurich, Switzerland, where we Business units Stand-alone brand were founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. Our approximately 14,400 employees provide a wide range of technical expertise, enabling us to develop unique so
Slide 11: Our global presence
Our global presence Americas EMEA APAC 121 nationalities Brazil Canada Denmark France Luxembourg Netherlands Australia China Approximately 14,400 employees, Colombia Mexico Germany Ireland Slovak Republic South Africa India Japan with a presence in 29 countries USA Israel Spain Malaysia Italy Switze
Slide 12: Our leadership – Group Executive Committee
Our leadership Group Executive Committee Christian Mumenthaler Urs Baertschi Andreas Berger John Dacey Cathy Desquesses Hermann Geiger Group Chief Executive Officer Chief Executive Officer Chief Executive Officer Group Chief Financial Officer Chief Human Resources Officer Group Chief Legal Officer P
Slide 13: Group Results 2022
Group Results 2022 Net income USD 0.47bn 2021: USD 1.4bn Premiums earned and fee income USD 43.1bn 2021: USD 42.7bn Shareholders’ equity USD 12.7bn 2021: USD 23.6bn Return on equity 2.6% 2021: 5.7% Return on investments 2.0% 2021: 3.2% P&C Re combined ratio 102.4% 2021: 97.1% L&H Re net operating ma
Slide 14: Financial strength and revenue diversification
Financial strength and revenue diversification Geographically diversified premium split % of net earned premium by geography 2022 Swiss Solvency Test Americas 51% 294% 1 January 2023 USD 43bn1 EMEA 31% Asia 18% Ratings as of February 2023 Portfolio composition % of net earned premium by segment 2022
Slide 15: Investment portfolio
Investment portfolio Investment portfolio split Cash and cash Short term equivalents investments FY 2022 4% 8% USD bn Government bonds Credit bonds 36% 35% 105.7 Assets under management 2.0% Return on investment Equities 6% Other investments Mortgages and other loans 4% (incl. policy loans) 7% 15
Slide 16: Our business
— Our business
Slide 17: We operate as ‘One Swiss Re’
We operate as ‘One Swiss Re’ > P&C Re is a leading global reinsurer serving the needs of property & casualty insurers > L&H Re is a leading global reinsurer serving the needs of life & health insurers > Corporate Solutions is a specialised risk partner with direct access to corporate customers > Glo
Slide 18: Property & Casualty Reinsurance
Property & Casualty Reinsurance Geographically diversified premium split % of net earned premium by geography 2022 P&C Re’s professionals provide clients with a broad range of premium products, Americas 55% unmatched offers and tailored solutions. EMEA 30% Our teams apply global expertise and local
Slide 19: Life & Health Reinsurance
Life & Health Reinsurance Geographically diversified premium split % of net earned premium by geography 2022 In a changing and complex world, we help clients extract actionable insights from ever- Americas 45% growing pools of data. Our tailored risk and capital management solutions allow clients to
Slide 20: Corporate Solutions
Corporate Solutions Geographically diversified premium split % of net earned premium by geography 2022 North America 45% Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Latin America 5% EMEA 25% We are relentlessly addressing indust
Slide 21: Global Clients & Solutions
Global Clients & Solutions We offer a wide range of innovative solutions, risk insights and partnerships to insurers, governments and leading consumer brands across the globe. We leverage Swiss Re's knowledge, expertise, technology and world-class platforms to enable our clients and partners to with
Slide 22: Sustainability
— Sustainability
Slide 23: Our Sustainability Approach
Our Sustainability Approach Group Sustainability Strategy 2023 – 2025: Two ambitions and three enablers Swiss Re embeds sustainability across its business activities, considering ESG factors in underwriting, investments and operations. We ensure that sustainability is appropriately reflected in role
Slide 24: Selection of key sustainability milestones and outlook
Selection of key sustainability milestones and outlook Commitment to individually Began Further tightened transition the compensating exclusion of investment and operational re/insurance underwriting greenhouse Committed to to 10% most carbon- portfolio to net- gas (GHG) the United Signed the Princi
Slide 25: @ Swiss Re
@ Swiss Re 25
Slide 26: Legal notice
Legal notice ©2023 Swiss Re. All rights reserved. You may use this presentation for private or internal purposes but note that any copyright or other proprietary notices must not be removed. You are not permitted to create any modifications or derivative works of this presentation, or to use it for