Swiss Re : Solid Q2 2023 results despite the return to casualty reserve strengthening
>Q2 2023 broadly in line with estimates - Swiss Re reported Q2 2023 results broadly in line with expectations. Group net attributable profit came to $ 804m vs $ 801m consensus and our $ 777m estimate. While P/C and L/H reinsurance contributed net profit slightly below expectations, Corporate Solutions came in better than expected. H1 2023 net profit stood at $ 1,447m, putting Swiss Re on track to deliver on its target to generate more than $ 3bn net profit in FY 2023....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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