Swiss Re: optimistic forecasts boost share price
(CercleFinance.com) - Swiss Re, the world's second-largest reinsurer, said on Friday that it was optimistic about its business, targeting net income of over $4.
4bn in 2025.
Last month, on announcing its 9m results, the group said that it was aiming for earnings of at least $3bn in 2024.
Swiss Re says that it also plans to increase its dividend by over 7% p.a. over the next three financial years.
At the same time, its return on equity (RoE) should remain above the 14% threshold.
The Zurich-based group says that it expects rates to remain strong in property-casualty reinsurance, with growing demand due to the rise in risks related to environmental issues.
In commercial insurance, rates are being maintained at high levels, it continues, while the life insurance market continues to grow.
Swiss Re also expects its cost discipline to result in operating expenses
being reduced by around $300m by 2027.
The share price benefited from all these announcements, gaining almost 4% around in early afternoon trading, well ahead of the SMI index of leading Swiss stocks.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
4bn in 2025.
Last month, on announcing its 9m results, the group said that it was aiming for earnings of at least $3bn in 2024.
Swiss Re says that it also plans to increase its dividend by over 7% p.a. over the next three financial years.
At the same time, its return on equity (RoE) should remain above the 14% threshold.
The Zurich-based group says that it expects rates to remain strong in property-casualty reinsurance, with growing demand due to the rise in risks related to environmental issues.
In commercial insurance, rates are being maintained at high levels, it continues, while the life insurance market continues to grow.
Swiss Re also expects its cost discipline to result in operating expenses
being reduced by around $300m by 2027.
The share price benefited from all these announcements, gaining almost 4% around in early afternoon trading, well ahead of the SMI index of leading Swiss stocks.
Copyright (c) 2024 CercleFinance.com. All rights reserved.