Swiss Re AG (CH:SREN)
:SREN
Earnings Data
Report Date
May 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
3.16Last Year’s EPS
3.44Same Quarter Last Year
Moderate Sell
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive picture: Swiss Re delivered record profit (USD 4.8bn), strong underwriting outcomes in P&C Re and Corporate Solutions (combined ratios well within targets), robust capital generation and significant shareholder returns while completing major portfolio remediation in Life & Health. Key negatives include a fall in insurance revenue (~-5.5%), sizable Life & Health assumption and experience charges (~USD 650m and USD 300m respectively), increased near-term nat cat exposure from reduced retrocession and elevated new-business loss and expense ratios. Management emphasizes resilience, disciplined underwriting and active capital management; overall the positive operational and capital outcomes outweigh the outlined challenges.Company Guidance
Record Group Net Income and Strong ROE
Achieved record group net income of USD 4.8 billion (exceeding the >USD 4.4 billion target by ~9%) and a return on equity (ROE) of 20% for FY2025.
P&C Re Outstanding Underwriting Performance
P&C Re insurance service result of USD 3.6 billion; full-year combined ratio of 79.4% (well inside target of <85%). Favorable experience variance contributed +USD 698 million, with large nat cat losses USD 1.2 billion below expectations. Added ~USD 200 million to current-year reserves and ~USD 100 million to prior-year reserves; recycled ~USD 1 billion of short-tail reserve redundancies into longer-tail IBNR to strengthen resilience.
Corporate Solutions Delivered Strong Result
Corporate Solutions insurance service result increased to USD 1.2 billion (≈+USD 200 million YoY). Reported combined ratio of 86.5% (comfortably below reported target <91%; like-for-like ~80%). Favorable experience variance of USD 217 million; large nat cat claims USD 148 million below expectations.
Life & Health Repositioning and Stabilization
Completed review of underperforming portfolios; despite assumption updates and reserve actions, Life & Health Re delivered net income of USD 1.3 billion for 2025 and targets increased net income of USD 1.7 billion for 2026. Insurance service result of USD 1.2 billion (down from USD 1.5 billion in 2024) but CSM remains robust at USD 17 billion.
Strong Investment Income and Yields
Return on investments (ROI) of 4.0% with recurring investment income yield of 4.2% and reinvestment yield of ~4.4%; recurring investment income of roughly USD 4 billion supported earnings.
Material Capital Return and Strong Solvency
Board proposed dividend of USD 8 per share (+9% YoY). Announced USD 500 million sustainable buyback plus USD 1 billion extraordinary buyback; total announced payout USD 3.9 billion (~80% of FY2025 earnings). Group SST ratio remains strong at ~250% after these capital actions; generated USD 4.7 billion SST capital in 2025.
Cost Savings and Operational Resilience
Achieved >USD 100 million of cost savings in 2025 and reaffirmed plan to reduce operating cost run rate by USD 300 million by 2027. Organizational and transformation initiatives (including a Chief Transformation Officer) are underway to improve execution and productivity.
Renewal Execution and Portfolio Actions
Renewed treaty contracts representing USD 12.4 billion gross premium in line with business up for renewal. Nominal pricing broadly flat; casualty saw mid-single-digit price increases while property (nat cat) saw similar declines. Increased prudent loss assumptions by 4.6% (well above economic inflation) which resulted in a net price decrease of 4.3%; terms & conditions remained stable.
CH:SREN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CH:SREN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 27, 2026 | CHF131.05 | CHF135.95 | +3.74% |
Nov 14, 2025 | CHF153.80 | CHF145.55 | -5.36% |
Aug 14, 2025 | CHF150.65 | CHF145.45 | -3.45% |
May 16, 2025 | CHF149.65 | CHF148.40 | -0.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Swiss Re AG (CH:SREN) report earnings?
Swiss Re AG (CH:SREN) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).
What is Swiss Re AG (CH:SREN) earnings time?
Swiss Re AG (CH:SREN) earnings time is at May 07, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Swiss Re AG stock?
The P/E ratio of Swiss Re AG is N/A.
What is CH:SREN EPS forecast?
CH:SREN EPS forecast for the fiscal quarter 2026 (Q1) is 3.16.