Swiss Re AG (CH:SREN)
:SREN
Want to see CH:SREN full AI Analyst Report?
Top Page
Swiss Re AG
(SREN)
Select Model
Select Model
Rating:73Outperform
Price Target:
CHF143.00
▲(8.70% Upside)
Action:Reiterated
Date:05/07/26
The score is driven mainly by improving fundamentals (stronger profitability, better leverage, higher ROE) and very attractive valuation (low P/E and high dividend yield). The latest earnings call supports the outlook with strong underwriting results and reiterated targets, while mixed technical signals and pricing/volume headwinds temper the upside.
Positive Factors
Underwriting discipline & margin sustainability
Sustained low combined ratios reflect disciplined underwriting and selective risk acceptance. Consistently out‑performing targets in P&C Re supports durable margin resilience through insurance cycles and underpins earnings quality over the medium term.
Negative Factors
Structural pricing pressure
A sustained negative net price implies top-line compression for reinsurance revenues and reduces underwriting leverage. If pricing weakness persists, it can constrain premium growth and force stricter underwriting or margin dilution over multiple renewals.
Read all positive and negative factors
Positive Factors
Negative Factors
Underwriting discipline & margin sustainability
Sustained low combined ratios reflect disciplined underwriting and selective risk acceptance. Consistently out‑performing targets in P&C Re supports durable margin resilience through insurance cycles and underpins earnings quality over the medium term.
Read all positive factors
Swiss Re AG (SREN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF31.98B
Dividend Yield4.49%
Average Volume (3M)909.34K
Price to Earnings (P/E)13.0
Beta (1Y)0.59
Revenue Growth-10.43%
EPS Growth35.93%
CountryCH
Employees15,000
SectorFinancial
Sector Strength70
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)11.62
Shares Outstanding298,761,720
10 Day Avg. Volume1,330,496
30 Day Avg. Volume909,335
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)2.03
Price to Sales (P/S)1.00
P/FCF Ratio15.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF122.63Price Target Upside-6.78% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering9
EPS Forecast (FY)16.04
Revenue Forecast (FY)CHF43.25B
Swiss Re AG Business Overview & Revenue Model
Company Description
Swiss Re AG, together with its subsidiaries, provides wholesale reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide. The company operates through Property & Casualty Reinsurance, Lif...
How the Company Makes Money
Swiss Re makes money mainly by underwriting and managing risk, supplemented by investment income on the assets it holds to back future claims.
1) Reinsurance underwriting (core):
- Property & Casualty (P&C) reinsurance: Swiss Re sells reinsurance...
Swiss Re AG Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call reported solid financial results and margin outperformance across major business units, highlighted by a $1.5 billion Q1 net income, strong combined ratios (P&C Re 79.5%) and above-4% investment returns. Management emphasized disciplined underwriting, portfolio quality, and targeted strategic actions (AI tools, transactional hires, selective M&A) while prudently provisioning ~$400 million for potential inflationary impacts from the Middle East conflict and adding ~$100 million of IBNR. Pricing headwinds (net price -4.4%) and modest volume contraction (-2%) signal a challenging market backdrop, but the strength in earnings, investment returns and capital management plans outweigh these near-term pressures.Positive Updates
Strong Group Profitability
Net income of $1.5 billion in Q1 2026; all business units posted increased earnings, supporting progress toward 2026 financial targets.
Negative Updates
Pricing Pressure and Net Price Decline
Combined January and April renewals show overall nominal pricing flat, but after increased loss assumptions net price change is -4.4%; competition intensified in parts of the market.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Group Profitability
Net income of $1.5 billion in Q1 2026; all business units posted increased earnings, supporting progress toward 2026 financial targets.
Read all positive updates
Company Guidance
Swiss Re reiterated unchanged goals to deliver on its 2026 financial targets and maintain group resilience after Q1 net income of $1.5 billion, with Property & Casualty Re net income up 43% to $754m (Q1 combined ratio 79.5%, full‑year target <85%; large nat‑cat losses $133m), Corporate Solutions net income up 26% to $262m (combined ratio 85.1%, target <91%), and Life & Health Re net income up 12% to $491m (full‑year net income target $1.7bn); management said it will continue disciplined underwriting and cycle management after January and April renewals (April represents ~12% of business) that left nominal pricing broadly flat overall, produced a net price change of -4.4% after prudent loss‑assumption increases, and saw volume down 2%; the group set aside ~ $400m of additional reserves for potential inflationary impacts of the Middle East conflict ($350m P&C Re, $50m CorSo) plus ~ $100m IBNR for attritional losses, and noted strong investment results (overall 4.6%, recurring 4.1%, reinvestment ~4.3%).Swiss Re AG Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 50.22B | 46.76B | 43.64B | 46.04B | 45.94B |
| Gross Profit | 50.22B | 43.14B | 40.32B | 38.24B | 37.70B |
| EBITDA | 6.87B | 4.27B | 4.26B | 1.65B | 3.07B |
| Net Income | 4.97B | 3.24B | 3.11B | 472.00M | 1.44B |
Balance Sheet | |||||
| Total Assets | 133.92B | 127.23B | 133.86B | 170.68B | 181.57B |
| Cash, Cash Equivalents and Short-Term Investments | 2.74B | 88.64B | 91.64B | 85.61B | 4.15B |
| Total Debt | 8.98B | 7.26B | 7.96B | 11.04B | 11.19B |
| Total Liabilities | 108.64B | 103.99B | 111.32B | 157.87B | 10.32B |
| Stockholders Equity | 24.65B | 23.11B | 22.31B | 12.70B | 23.57B |
Cash Flow | |||||
| Free Cash Flow | 3.16B | 3.13B | 4.09B | 2.93B | 4.10B |
| Operating Cash Flow | 3.16B | 3.13B | 4.09B | 2.93B | 4.10B |
| Investing Cash Flow | -2.38B | -407.00M | -362.00M | -2.34B | -2.14B |
| Financing Cash Flow | -2.23B | -2.97B | -3.22B | -1.24B | -2.10B |
Swiss Re AG Technical Analysis
Negative
131.55
Price Trends
125.11
Negative
123.33
Negative
129.83
Negative
Market Momentum
-1.97
Positive
35.63
Neutral
6.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:SREN, the sentiment is Negative. The current price of 131.55 is above the 20-day moving average (MA) of 122.65, above the 50-day MA of 125.11, and above the 200-day MA of 129.83, indicating a bearish trend. The MACD of -1.97 indicates Positive momentum. The RSI at 35.63 is Neutral, neither overbought nor oversold. The STOCH value of 6.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:SREN.
Swiss Re AG Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | CHF2.40B | 15.31 | 6.06% | 3.38% | 5.93% | 5.73% | |
74 Outperform | CHF83.20B | 12.33 | 23.97% | 4.66% | -3.71% | 10.90% | |
73 Outperform | CHF31.98B | 13.00 | 14.51% | 4.49% | -10.43% | 35.93% | |
71 Outperform | CHF24.09B | 25.07 | 12.52% | 3.80% | -0.42% | 2.40% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
CH:SREN
Swiss Re AG
117.70
-21.51
-15.45%
CH:SLHN
Swiss Life Holding AG
850.80
63.88
8.12%
CH:ZURN
Zurich Insurance Group
557.00
8.09
1.47%
CH:VAHN
Vaudoise Assurances Holding SA
822.00
227.60
38.29%
Swiss Re AG Corporate Events
Swiss Re lifts Q1 profit 19% on strong underwriting and investments
May 7, 2026
Swiss Re reported a first-quarter 2026 profit of USD 1.5 billion, up 19% year on year, delivering a return on equity of 23.6% and a 4.6% investment return, supported by low natural catastrophe losses and strong recurring income. All business units...
Swiss Re releases 2025 Financial Condition Report under Swiss solvency rules
Apr 13, 2026
Swiss Re has published its Financial Condition Report 2025 for the group and its supervised re/insurance entities in Switzerland, covering the period to 31 December 2025. The report, issued under Swiss regulatory requirements, details Swiss Solven...
Swiss Re shareholders back dividend, new board member and capital currency shift
Apr 10, 2026
Swiss Re shareholders approved all proposals at the 2026 Annual General Meeting, including an ordinary dividend of USD 8.00 per share for the 2025 financial year, to be paid from voluntary profit reserves with shares trading ex-dividend from 14 Ap...
Swiss Re warns secondary perils now dominate global catastrophe losses
Mar 19, 2026
Swiss Re’s research arm reports that so‑called secondary perils such as wildfires, severe convective storms and floods accounted for a record 92% of the USD 107 billion in global insured natural catastrophe losses in 2025, underscoring...
Swiss Re enters US longevity market with USD 2 billion reinsurance deal
Mar 17, 2026
Swiss Re has completed a USD 2 billion longevity reinsurance transaction with Athene, marking its first deal covering US retirees and extending its established presence in the longevity risk transfer market beyond the UK, the Netherlands, Singapor...
Swiss Re lifts dividend, launches buyback and integrates sustainability in 2025 report
Mar 12, 2026
Swiss Re has released its fully audited 2025 Financial Report, providing detail on group strategy, business performance, risk profile and governance, while for the first time integrating its Sustainability Report into a single publication. The sus...
Swiss Re posts record 2025 profit and unveils USD 1.5 billion buyback
Feb 27, 2026
Swiss Re reported a record 2025 net profit of USD 4.8 billion, up 47% and above its target, driven by strong underwriting in property and casualty lines, lower-than-expected natural catastrophe losses and solid investment returns. The group posted...
Swiss Re Corporate Solutions Buys QBE’s Global Trade Credit and Surety Business to Expand Credit Offering
Feb 20, 2026
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, provides tailored risk transfer and standard insurance products to large and mid-sized corporates worldwide, leveraging the group’s strong balance sheet and global...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.