Swiss Re : FY 2019 results below expectations; further deterioration of US liability business, underlying profitability should improve further
>FY 2019 results came in below estimates - Swiss Re reported FY 2019 net profit of $ 727m and thus below the $ 1,342m consensus and our $ 1,217m estimate. The negative deviation was triggered by above average nat cat claims and reserve strengthening for the US casualty business. Management proposed a DPS of CHF 5.90 (ODDO BHF 5.80e) and a share buyback of CHF 1bn, in line with expectations. Management pointed to an SST ratio in the range of >220% and <241% for January...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.