Swiss Re AG (CH:SREN)
:SREN
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Swiss Re AG (SREN) AI Stock Analysis

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CH:SREN

Swiss Re AG

(SREN)

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Outperform 73 (OpenAI - 4o)
Rating:73Outperform
Price Target:
CHF165.00
▲(8.70% Upside)
Swiss Re AG's strong financial performance, highlighted by robust profitability and a solid balance sheet, is the most significant factor in its stock score. The positive technical indicators and reasonable valuation further support the stock's attractiveness. The earnings call provided a balanced view with strong net income and ROE, though offset by some revenue challenges. Overall, the stock presents a stable investment opportunity with room for growth.

Swiss Re AG (SREN) vs. iShares MSCI Switzerland ETF (EWL)

Swiss Re AG Business Overview & Revenue Model

Company DescriptionSwiss Re AG is a leading global reinsurance company headquartered in Zurich, Switzerland. Operating primarily in the reinsurance sector, Swiss Re provides a wide range of insurance solutions and risk management services across various industries. The company's core products include property and casualty reinsurance, life and health reinsurance, as well as insurance-based solutions for clients in both traditional and emerging markets. Swiss Re's expertise in risk assessment and management underpins its role as a key player in the global insurance landscape, helping businesses and governments navigate complex risks.
How the Company Makes MoneySwiss Re AG primarily generates revenue through its reinsurance operations, which involve underwriting insurance policies for various risks and collecting premiums from ceding companies. The main revenue streams include premiums received from property and casualty reinsurance, life and health reinsurance, and the provision of insurance-based investment products. The company also earns investment income from the management of its substantial investment portfolio, which includes fixed-income securities, equities, and alternative investments. Additionally, Swiss Re engages in strategic partnerships and collaborations with other insurers and financial institutions, enhancing its market presence and enabling it to diversify its revenue sources. The company's strong capital position and risk management capabilities allow it to optimize underwriting performance, contributing further to its profitability.

Swiss Re AG Earnings Call Summary

Earnings Call Date:Aug 14, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 14, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted Swiss Re's strong net income and ROE, improved P&C performance, disciplined pricing, and solid investment results. However, these positives were counterbalanced by declines in insurance revenue, challenges in casualty volumes, and negative experience variance in Life & Health Re. Overall, the highlights and lowlights appear balanced.
Q2-2025 Updates
Positive Updates
Strong Net Income and ROE
Swiss Re reported a net income of USD 2.6 billion for the first half of 2025, resulting in an annualized ROE of 23%. This achievement represents approximately 60% of their full-year net income target of more than USD 4.4 billion.
P&C Business Performance
The P&C businesses benefited from a relatively quiet second quarter in terms of large losses, leading to a strong combined ratio. The P&C reserves were bolstered by a USD 300 million nominal reserving in the first half.
Renewals and Pricing Discipline
The company achieved nominal price increases of 2.3% on its overall portfolio during midyear renewals, with significant increases in property and specialty lines, while reducing casualty volumes by 27%.
Life & Health Re Performance
Life & Health Re reported a net income of USD 839 million, slightly above its pro rata target. The largest portfolios, including U.S. mortality, performed in line with expectations.
Investment Results
The company achieved a return on investment (ROI) of 4.1% in the first half, slightly ahead of last year's 4%, with recurring income standing at USD 2 billion.
Capital Strength
Swiss Re's group SST ratio was estimated at 264% as of July 1, 2025, which is 7 points higher than at the start of the year.
Negative Updates
Decline in Group's Insurance Revenue
The group's insurance revenue amounted to USD 20.9 billion in the first half of 2025, down from USD 22.2 billion last year, driven by factors such as the termination of an external retrocession transaction and nonrenewal of certain businesses.
Life & Health Re Experience Variance
The Life & Health Re segment experienced a negative variance of USD 197 million in the first half due to selective assumption updates in onerous business and volume updates, although actual claims experience was slightly positive.
Challenges in Casualty Volume
Casualty volumes were significantly reduced by 27% due to challenges in achieving rate adequacy and risk assessment.
Company Guidance
During Swiss Re's Half Year 2025 Results Conference Call, the company reported a strong net income of USD 2.6 billion for the first half of the year, achieving an annualized ROE of 23%. The progress is attributed to a robust underwriting performance, particularly in the Property & Casualty (P&C) sector, which saw moderate large losses of under USD 150 million in Q2, predominantly from man-made events. This has led to a 60% realization of their USD 4.4 billion full-year net income target. The P&C Re unit posted a new business CSM of USD 2.2 billion, maintaining the same level as the previous year, and a combined ratio of 81.1%, well below their 85% target. Meanwhile, the Life & Health Re unit generated a net income of USD 839 million, slightly surpassing its pro-rata target. Despite facing challenges in some smaller portfolios, the unit remains on track. The company also reported a modest 3% year-to-date volume growth, with a net price change of negative 1.8%, and aims to reduce its cost run rate by USD 100 million this year, contributing to an overall target of USD 300 million by 2027. The group maintains an SST ratio of 264% as of July 1, 2025, reflecting a resilient capital position.

Swiss Re AG Financial Statement Overview

Summary
Swiss Re AG demonstrates robust financial health with a solid balance sheet and improving profitability. While revenue growth has been inconsistent, the company has managed to enhance its profitability and leverage. Cash flow management is stable, though ensuring consistent revenue growth and efficient investment utilization will be key to future stability and growth.
Income Statement
75
Positive
Swiss Re AG has shown a stable revenue base with some fluctuations over the years. The net profit margin improved to 37.14% in 2024 from 6.46% in 2023, indicating enhanced profitability. However, revenue decreased significantly from 2023 to 2024. EBIT margins have been inconsistent, with EBIT in 2024 being zero. The overall trend shows recovery from previous losses, yet maintaining consistent revenue growth remains a challenge.
Balance Sheet
80
Positive
The company's debt-to-equity ratio has improved over time, showing better leverage management, with a ratio of 0.31 in 2024. The equity ratio has remained stable, indicating a strong balance sheet. Return on Equity (ROE) increased significantly to 14.03% in 2024, highlighting improved shareholder returns. The financial stability is evident, but attention to asset management is needed due to fluctuating total assets.
Cash Flow
70
Positive
Operating cash flow showed a decline from 2023 to 2024, but free cash flow remained positive. The free cash flow to net income ratio improved, indicating better cash generation relative to profit. However, negative investing cash flow suggests a need for careful investment management. The cash flow situation is stable, but there is room for improvement in operational efficiency.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue21.96B8.72B49.73B46.04B46.74B43.34B
Gross Profit21.96B12.37B49.46B46.04B46.74B43.34B
EBITDA0.004.27B-23.00M1.64B-573.00M115.00M
Net Income2.38B3.24B3.21B472.00M1.44B-878.00M
Balance Sheet
Total Assets135.34B127.23B179.58B170.68B181.57B182.62B
Cash, Cash Equivalents and Short-Term Investments0.0088.64B88.38B85.61B4.15B4.70B
Total Debt8.47B7.26B9.82B11.04B11.19B11.74B
Total Liabilities111.27B103.99B163.21B157.87B10.32B11.58B
Stockholders Equity23.93B23.11B16.15B12.70B23.57B27.14B
Cash Flow
Free Cash Flow0.003.13B4.09B2.93B4.10B5.39B
Operating Cash Flow0.003.13B4.09B2.93B4.10B5.39B
Investing Cash Flow0.00-407.00M-362.00M-2.34B-2.14B-7.72B
Financing Cash Flow0.00-2.97B-3.22B-1.24B-2.10B-2.50B

Swiss Re AG Technical Analysis

Technical Analysis Sentiment
Positive
Last Price151.80
Price Trends
50DMA
146.26
Positive
100DMA
145.26
Positive
200DMA
142.99
Positive
Market Momentum
MACD
0.79
Negative
RSI
59.15
Neutral
STOCH
91.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:SREN, the sentiment is Positive. The current price of 151.8 is above the 20-day moving average (MA) of 148.58, above the 50-day MA of 146.26, and above the 200-day MA of 142.99, indicating a bullish trend. The MACD of 0.79 indicates Negative momentum. The RSI at 59.15 is Neutral, neither overbought nor oversold. The STOCH value of 91.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:SREN.

Swiss Re AG Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$79.70B15.8223.97%4.86%-7.33%17.93%
73
Outperform
$40.74B13.7217.22%3.92%-4.94%-5.71%
70
Outperform
€1.83B12.146.06%3.73%-1.58%4.07%
68
Neutral
CHF9.10B20.763.92%-9.11%73.67%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
68
Neutral
$24.77B20.9417.11%3.98%-1.65%10.05%
59
Neutral
CHF10.64B19.443.21%-1.57%95.56%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CH:SREN
Swiss Re AG
151.80
36.35
31.49%
CH:BALN
Baloise Holding AG
209.20
52.04
33.11%
CH:HELN
Helvetia Holding AG
208.40
66.04
46.39%
CH:SLHN
Swiss Life Holding AG
868.60
176.75
25.55%
CH:ZURN
Zurich Insurance Group
577.60
83.47
16.89%
CH:VAHN
Vaudoise Assurances Holding SA
646.00
202.93
45.80%

Swiss Re AG Corporate Events

Swiss Re’s Sigma Report: Silver Economy’s Impact on Life Insurance
Oct 22, 2025

Swiss Re’s latest sigma report highlights the transformative impact of the ‘Silver Economy’ on the life insurance industry, driven by an aging population, declining birth rates, and wealth concentration among seniors. By 2050, a significant portion of the population in industrialized countries will be over 65, necessitating a shift in life insurers’ focus from income replacement to wealth planning and personal care financing. This demographic shift presents opportunities for insurers to innovate in product design and delivery, addressing the needs of retirees who face the risk of outliving their savings. The report emphasizes the importance of developing new financial products, such as longevity risk distribution pools and cancer-specific insurance, to meet the evolving demands of an aging population, while also highlighting the growing pressure on long-term care services.

The most recent analyst rating on (CH:SREN) stock is a Hold with a CHF160.00 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re Study: GLP-1 Medications Could Significantly Reduce Mortality by 2045
Sep 17, 2025

Swiss Re’s recent study highlights the potential impact of GLP-1 medications on reducing mortality rates in the USA and UK by 2045, assuming widespread use and lifestyle changes. The study emphasizes the importance of lifestyle modifications alongside medication use to achieve significant mortality reductions, with implications for insurers in risk assessment and benefit claims development.

The most recent analyst rating on (CH:SREN) stock is a Buy with a CHF158.00 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re Highlights Resilience Amid Global Risks at Monte Carlo Meeting
Sep 8, 2025

Swiss Re emphasizes the importance of a holistic approach to maintaining resilience amid complex risks, highlighting the role of AI in improving risk assessment and underwriting quality. The company underscores the urgency of preventive measures against natural disasters and stresses the need for collaboration between public and private sectors to mitigate risks. Geopolitical uncertainties and fragmentation pose challenges to the re/insurance market, affecting risk assessment and causing volatility. Swiss Re views re/insurance as a stabilizing force during global upheavals, supporting economic recovery and resilience.

The most recent analyst rating on (CH:SREN) stock is a Buy with a CHF161.40 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re Projects Growth and Resilience in Global P&C Insurance Market
Sep 6, 2025

The Swiss Re Institute reports that the global property and casualty insurance market, valued at USD 2.4 trillion, is set to grow alongside global GDP over the next decade, driven by increasing natural disaster damages and economic factors. The market’s maturity is evident through the entry of smaller players and the adoption of alternative risk solutions, enhancing capacity and affordability. The industry is becoming more efficient with specialization and outsourced underwriting, while the use of alternative risk solutions helps manage rising risks, particularly in catastrophe-prone regions. Reinsurers play a critical role in maintaining stability and capacity, despite new dependencies on capital markets.

The most recent analyst rating on (CH:SREN) stock is a Buy with a CHF161.40 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re AG Reports Strong H1 2025 Earnings
Aug 15, 2025

Swiss Re AG, headquartered in Zurich, Switzerland, is a leading global provider of reinsurance, insurance, and other insurance-based risk transfer solutions, known for its focus on making the world more resilient to risks such as natural catastrophes and climate change.

Swiss Re Reports Strong H1 2025 Performance with USD 2.6 Billion Profit
Aug 14, 2025

Swiss Re reported a profit of USD 2.6 billion for the first half of 2025, driven by strong underwriting margins and a solid investment performance. The company achieved a return on equity of 23.0%, with significant contributions from its Property & Casualty Reinsurance, Corporate Solutions, and Life & Health Reinsurance segments. Despite a challenging pricing environment, Swiss Re maintained robust contractual service margins and a strong capital position, with a Swiss Solvency Test ratio of 264%. The company’s strategic focus on disciplined underwriting and cost efficiency continues to support its financial targets amid geopolitical and macroeconomic uncertainties.

The most recent analyst rating on (CH:SREN) stock is a Hold with a CHF132.00 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re Enhances Life Guide with Longevity Drug Guidance
Aug 11, 2025

Swiss Re has updated its Life Guide to include guidance on assessing life insurance applicants using repurposed longevity drugs like metformin and rapamycin. This update aims to help underwriters make informed decisions in light of the uncertain long-term effects of these drugs, which are gaining popularity for their potential anti-aging benefits. The Life Guide, used by over 800 insurance companies globally, now also features improved tools for assessing chronic kidney disease and prostate cancer risks, reinforcing Swiss Re’s commitment to evidence-based underwriting in a changing health landscape.

The most recent analyst rating on (CH:SREN) stock is a Hold with a CHF132.00 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

Swiss Re Reports Record Insured Losses from Natural Disasters in 2025
Aug 6, 2025

Swiss Re Institute reports that insured losses from natural disasters in the first half of 2025 reached $80 billion, driven by record-breaking wildfires in California and severe thunderstorms in the USA. This figure is nearly double the ten-year average and suggests that total losses for the year could surpass the $150 billion forecast. The increase in losses is attributed to factors such as rising temperatures, more frequent droughts, and urban expansion into high-risk areas. The report underscores the importance of enhanced damage mitigation and adaptation measures to increase community resilience.

The most recent analyst rating on (CH:SREN) stock is a Hold with a CHF132.00 price target. To see the full list of analyst forecasts on Swiss Re AG stock, see the CH:SREN Stock Forecast page.

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.Date of analysis: Oct 22, 2025