Swiss Re Net Profit Gets Boost From Lower Natural-Catastrophe Losses

By Adria Calatayud

Swiss Re reported an increase in first-quarter net profit, helped by lower losses from large natural-catastrophes and a strong investment performance.

The Zurich-based reinsurer said Thursday that net profit for the quarter was $1.51 billion compared with $1.275 billion in the year-earlier period. This compared with analysts' forecast of $1.19 billion, according to consensus estimates provided by the company.

Swiss Re said all business units contributed to the result, with its property-and-casualty segment benefiting from low large losses and its life-and-health segment from favorable U.S. mortality trends.

Insurance revenue declined 4% to $10.03 billion.

"Swiss Re delivered strong earnings in the first quarter, putting us on a good path towards our 2026 financial targets," Chief Executive Andreas Berger said.

The reinsurer said it is taking a disciplined approach to property-and-casualty treaty contracts renewals amid a more challenging pricing environment. This led to an 8% decline in premium volumes renewed on April 1 relative to the business that was up for renewal, it said.

Swiss Re set aside additional reserves for potential inflationary impacts of the Middle East conflict, Chief Financial Officer Anders Malmstroem said.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

May 07, 2026 01:36 ET (05:36 GMT)