Report
Henry Heathfield, CFA
EUR 100.00 For Business Accounts Only

We are cautious over Swiss Re's competitive positioning.

Swiss Reinsurance reported what we think are a pretty poor set of full-year 2017 results, with group level net income coming in at $330 million. This has largely been caused by the $3.7 billion in losses incurred for natural catastrophe claims, which also affected corporate solutions. While we will reflect 2017 full-year results and roll our model, we don’t expect a shift of greater than 10% in our fair value estimate. We also maintain our no-moat and stable moat trend ratings.
Nonlife reserving...
Underlying
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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