Swiss Re lifts H1 profit, sharpens cost cuts and expands in growth markets

Swiss Re AG ( (CH:SREN) ) has shared an update.

Swiss Re reported a 9% year-on-year increase in first-half 2026 profit to USD 2.8 billion, driven by improved profitability across Property & Casualty Reinsurance, Life & Health Reinsurance and Corporate Solutions. The group delivered a return on equity of 22.7%, a 4.0% investment return and maintained a robust Swiss Solvency Test ratio of 264%, underscoring strong capitalisation and earnings resilience.

P&C Re delivered an 18% profit rise to USD 1.4 billion with a notably low combined ratio of 76.7%, supported by limited large natural catastrophe losses and disciplined mid-year renewals despite some price declines. Corporate Solutions increased profit by 14% to USD 490 million and is targeting further growth via new partnerships in India and Mexico, while L&H Re lifted profit 21% to USD 1.0 billion on solid margins and favourable U.S. mortality trends.

The group raised its operating cost reduction target to USD 500 million by 2028, reflecting progress on earlier efficiency measures and a push to streamline non-client-facing functions. Management highlighted ongoing execution of a USD 1.5 billion share buyback programme and announced leadership changes, including a new CEO for L&H Re and a new Group CIO, signalling continued focus on operational efficiency and strategic positioning in key markets.

The most recent analyst rating on (CH:SREN) stock is a Sell
with a CHF125.00 price target.
To see the full list of analyst forecasts on Swiss Re AG stock,
see the CH:SREN Stock Forecast page.