Swiss Re : Net earnings significantly impacted by COVID in H1 2020
>A net loss of $ 1.1bn in H1 2020 - On Friday morning, Swiss Re reported its detailed H1 2019 earnings. Note that two weeks ago the group reported a $ 1,1bn net loss for H1, with a COVID-related charge of $ 2,5bn. The net loss was -€ 1,135m well below forecasts (consensus of -€ 44m, our forecast of -€ 380m). The difference vs forecasts stemmed from the very substantial COVID-related charge of $ 2,541m (vs $ 1,083bn for the consensus and our estimate of $ 1,391m). Exc...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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