Swiss Re AG

SREN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CHF 481.00	Tryrw	Vnzsnfcd

Swiss Re Earnings: Beats Our Estimates; Raises Dividend; Generates Economic Returns for Shareholders

Henry Heathfield

Feb 16, 2024

Swiss Re has reported a net income of $3.2 billion for 2023, or $11.1 in EPS, ahead of the $3.1 billion and $10.3 for net income and EPS, respectively, we forecast. The board is proposing a dividend of $6.8 per share, ahead of the $6.4 per share we forecast. For 2024 Swiss Re has guided for more than $3.6 billion in net income. The Feb. 16 results translate into a 22% return on equity. We maintain our CHF 130 per-share fair value estimate and no moat rating.

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