Swiss Re : Expected to turn a profit in Q4 despite COVID
>Loss expected for 2020, despite profit forecast in Q4 - Swiss Re is due to report its 2020 results on 19 February before trading. We forecast a net income of -$ 459m in 2020 (vs +$ 727m in 2019), slightly higher than the consensus (-$ 526m), equating to a net income of $ 232m in Q4 2020. Our earnings forecast includes projected COVID costs before tax of $ 620m in Q4 (after $ 428m in Q3, taking these costs to $ 3.589bn in FY 2020), including: $ 120m in P&C reinsurance...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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