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Swiss Re issues financial condition report

Swiss Re issues financial condition report | Insurance Business UK

Swiss Re issues financial condition report

Swiss Re has published its 2019 Financial Condition Report for the Swiss Re Group and regulated reinsurance legal entities domiciled in Switzerland. The report contained information on the Swiss Solvency Test (SST) and the financial condition of the Swiss Re Group and Swiss Reinsurance Company Limited, Swiss Re Corporate Solutions, Swiss Re Life Capital Reinsurance and Swiss Re International SE, Luxembourg (Zurich Branch).

The information in the report is current as of December 31 and includes SST ratios as of January 01. Swiss Re is not providing more current SST ratios “due to the elevated levels of uncertainty relating to the COVID-19 pandemic,” the company said.

In SST 2020, the solvency of Swiss Re Group was at 232%, well above the target level of 220%.

“Underwriting contribution remained positive despite large losses from natural catastrophes, man-made events and increased claims in US casualty business,” the report said.