Swiss Re Profit Slips on Lower Revenue

By Elena Vardon

Swiss Re reported an expected decline in fourth-quarter net profit on a softer top line.

The Zurich-based reinsurer said it made $717 million in net profit for the three months through Dec. 31, beating a $687 million company-compiled estimate but a fall from $1.05 billion reported in the comparable quarter the year prior.

Insurance revenue for the quarter came in at $11.14 billion, down from $11.89 billion a year prior, and consensus of $11.24 billion. The group's investment result fell to $966 million from $1.10 billion, while analysts had penciled in $1.08 billion.

The group maintained the $4.5 billion net profit target for 2026 it set out at the end of last year, adding that its life-and-health segment would contribute $1.7 billion. This compares with a $4.8 billion result for 2025, which it described on Friday as a record high and said reflects disciplined underwriting, strong investment returns and low large loss activity beyond the first quarter.

"Having completed the comprehensive review of underperforming portfolios in L&H Re, all three of our business units are positioned to deliver consistent results," Chief Executive Officer Andreas Berger said. Swiss Re has a large property-and-casualty business and a smaller corporate-solutions unit.

The group intends to pay out a dividend of $8 a share for 2025--up around 9% on year--and buy back $1.5 billion of its own shares over the course of 2026.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

February 27, 2026 01:59 ET (06:59 GMT)