Report
Henry Heathfield, CFA
EUR 100.00 For Business Accounts Only

1Q Shows Swiss Re Still Waiting for Corporate Solutions to Cease Its Drag

Swiss Re reported net income of USD 487 million for the first quarter and will start a USD 1 billion share-buyback programme within a few days. When normalising the net income figure for a USD 280 million accounting change impact, which sees changes in equity investments except those accounted for under the equity method reflected as occurs instead of on sale, the figures are still a little light. We maintain our CHF 94 fair value estimate and no-moat and stable trend ratings.
Gross premium was...
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Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Henry Heathfield, CFA

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