Swiss Re: Adds to US Liability Reserves, Which Should Lead to Better Casualty Reinsurance Reporting

Swiss Re has announced it has strengthened its United States property and casualty liability reserves by $2.4 billion in the third quarter of 2024. This takes the total amount added to property and casualty reinsurance US liability reserves over the first nine months of the year to $3.1 billion. Around $400 million of reserve releases have partially offset these reserve additions and this means the net addition amounts to $2.0 billion. The additional reserving should take Swiss Re’s reserves to the upper end of its best estimate range and addresses reserve developments in its entire US liability portfolio, according to the business.