Swiss Re Ag · SIX:SREN
Swiss Re — Q1 2010 Earnings Presentation
12 slides from Swiss Re's earnings presentation, May 6, 2010
Slide 1: First Quarter 2010 results
a First Quarter 2010 results Analyst and investor conference call Zurich, 06 May 2010
Slide 2: Today's agenda
Today’s agenda a Introduction Susan Holliday, Head IR Business performance George Quinn, CFO Questions & answers First Quarter results 2010 2
Slide 3: Introduction
a Introduction Susan Holliday, Head IR First Quarter results 2010 3
Slide 4: Q1 2010 Highlights
a Business performance George Quinn, CFO First Quarter results 2010 4 Q1 2010 Highlights High nat cats, strong underlying performance a Q1 2010 net income of USD 158m (vs USD 130m in Q1 2009) – EPS CHF 0.5, (USD 0.5) Shareholders’ equity increased by USD 0.8bn to USD 26.2bn – Book value per ordi
Slide 5: Key figures
Key figures a USD, unless otherwise stated Q1 2009 Q1 2010 Group net income 1 0.1bn 0.2bn P&C combined ratio 90.2% 109.4% Return on equity 2.9% 2.7% Earnings per share (USD) 0.4 0.5 (CHF) 0.4 0.5 FY 2009 Q1 2010 Shareholders’ equity2 25.3bn 26.2bn Book value per share (USD)3 66.2 68.6 (C
Slide 6: Nat cat and large claims
Nat cat and large claims a Nat cat premiums and claims1 USD m FY 2010 est. Expected net premiums 1 710 Expected net claims 925 Man-made and nat cat large claims1 2010 USD m Date 2010 Est. net claims Earthquake Haiti January 20 Earthquake Chile February 500 Winterstorm Xynthia February 100 Storms in
Slide 7: Asset Management
Asset Management Strong total return a Operating income1 Return on Investments Total return2 USD m % % -4.2% +0.9pts. +15.2pts. 8.1% 978 937 2.8% 1.9% -7.1% Q1 2009 Q1 2010 Q1 2009 Q1 2010 Q1 2009 Q1 2010 AM investment portfolio of RoI of 2.0% for rates, 4.4% for Total return17.9% for credit,
Slide 8: Shareholders' equity Q1 2010
Shareholders’ equity Q1 2010 Continued book value growth a USD m 28 000 27 540 27 000 1 361 26 000 26 179 96 1 061 158 -480 25 344 25 000 Gov bonds 0.2 Corp bonds 0.3 24 000 Sec products 1.0 Equities and others 0.1 Tax -0.5 Total 1.1 23 000 31 Dec 2009 Net income Other Foreign currency Net change in
Slide 9: April 2010 renewals
April 2010 renewals Premiums stable, price adequacy maintained a Total treaty portfolio USD 1.1bn USD 1.1bn 0% 15% 100% 100% -31% -3% 80% 18% 99% 60% 69% 40% 20% 0% Total Cancelled Renewed Decrease New Pending Estimated renewable or on business/ outcome April 2010 replaced renewal replace- ment Ov
Slide 10: Summary
Summary Building on our strengths a Strong underlying results and client franchise Capital strength and expertise position us well to support clients Recent large losses expected to increase risk awareness and create a stabilising influence on pricing Fit to Compete programme largely complet
Slide 11: Questions & answers
a Questions & answers First Quarter results 2010 17 Corporate calendar & contacts a Corporate calendar 11 June 2010 Investors’ Day London 05 August 2010 Second Quarter 2010 results Conference call 13 September 2010 Investors and Media meeting Monte Carlo 04 November 2010 Third Quarter 2010 results C
Slide 12: Cautionary note on forward-looking statements
Cautionary note on forward-looking statements a Certain statements and illustrations contained herein are forward-looking. These statements and illustrations provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a histor