Swiss Re : Solid FY 2023 results and more prudent loss assumptions baked in
>FY 2023 results broadly in line with estimates - Swiss Re reported a solid set of FY 2023 results broadly in line with estimates. Group net profit came to $ 3,214m vs $ 3,263m consensus and our $ 3,147m estimate. P/C reinsurance contributed results slightly below expectations while L/H reinsurance and Corporate Solutions contributed ahead of expectations. Group RoI came to 3.4% and was in line with estimates. Group SST ratio stood at ~300% and thus above our estimate...Swiss Re is engaged in wholesale reinsurance, insurance and risk transfer solutions. Co.'s clients include insurance companies, corporations, the public sector and policyholders. Co.'s business units include: Property & Casualty Reinsurance, which includes the business lines property and casualty (including motor); Life & Health Reinsurance, which includes the life and health line of business; Corporate Solutions, which serves mid-sized and large corporations, with product offerings ranging from property and casualty insurance to customised solutions; and Admin Re®, which provides risk and capital management solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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