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Swiss Re (SSREY)
OTHER OTC:SSREY
Earnings Data
Report Date
May 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.92Last Year’s EPS
1.08Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive picture: Swiss Re delivered record earnings (USD 4.8 billion) and strong underwriting results (P&C Re combined ratio 79.4%), executed tangible capital returns (9% higher ordinary dividend plus USD 1.5 billion in buybacks) and strengthened reserves and resilience (loss picks +4.6%, added reserves, IBNR reallocation). Major negatives were concentrated in Life & Health where assumption updates and adverse experience reduced 2025 earnings (approx. USD 950 million combined impact across updates and experience), a meaningful top-line decline (USD 43.1bn vs USD 45.6bn) and increased direct nat cat exposure following reduced retrocession. On balance the positive operational and capital achievements, clear cost-savings targets and strong solvency metrics outweigh the lower‑order and addressable headwinds, supporting a constructive outlook.Company Guidance
Record Group Net Income and Strong ROE
Group net income of USD 4.8 billion in 2025 (above the USD 4.4 billion target) with an ROE of 20%, driven by disciplined underwriting, strong recurring investment income and a low burden of large losses outside Q1.
Robust Capital Returns and Strong Solvency
Board proposes USD 8 per share ordinary dividend (9% increase). Announced capital actions include a USD 500 million sustainable buyback and an additional USD 1 billion extraordinary buyback, implying total payout of USD 3.9 billion (~80% of 2025 earnings). Group SST ratio after actions remains strong at 250%.
Excellent P&C Re Underwriting Performance
P&C Re delivered an insurance service result of USD 3.6 billion and a combined ratio of 79.4% for 2025 (well under the <85% target), supported by favorable experience variance and large nat cat losses coming in USD 1.2 billion below expectations.
Solid Corporate Solutions Outcome
Corporate Solutions achieved a full-year combined ratio of 86.5% (comfortably below its <91% target) and insurance service result increased to USD 1.2 billion (up ~USD 200 million year-on-year); like-for-like combined ratio would be ~80%.
Life & Health Re Earnings and Resilience
Life & Health Re delivered net income of USD 1.3 billion for 2025 despite portfolio reviews and assumption updates; management expects improved visibility and targets USD 1.7 billion net income for 2026.
Investment Returns and Recurring Yield
Return on investments (ROI) of 4.0% with recurring investment yield of 4.2% and a reinvestment yield of ~4.4%, providing a stable recurring investment contribution (recurring investment income ~USD 4 billion).
Progress on Cost Savings and Expense Discipline
Achieved more than USD 100 million of cost savings in 2025 and on track for targeted USD 300 million reduction in operating cost run rate by 2027 (additional USD 200 million planned over next two years).
Prudent Reserving and Resilience Measures
Increased initial loss assumptions by 4.6%, added ~USD 200 million to current-year reserves and ~USD 100 million to prior-year reserves (nominal), and recycled close to USD 1 billion of short-tail reserve redundancies into longer-tail IBNR to strengthen resilience.
Renewals and Premium Renewal Volume
Renewed treaty contracts representing USD 12.4 billion of gross premium; nominal pricing broadly flat with mid-single-digit improvements in casualty offset by mid-single-digit declines in property (notably nat cat). After updated loss assumptions (+4.6%), reported a net price decrease of 4.3%.
Capital Generation and Flexibility
Generated ~USD 4.7 billion of SST capital in 2025; management reiterated flexibility to deploy excess capital (extraordinary buybacks) when qualitative and quantitative criteria are met rather than as a recurring commitment.
Progress on iptiQ Exit
Substantial progress on iptiQ withdrawal — most parts sold and remaining EMEA Life & Health book placed into runoff; management expects continued runoff management and no acceleration in previously communicated guidance.
SSREY 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
SSREY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Nov 14, 2025 | $48.50 | $45.86 | -5.44% |
Aug 14, 2025 | $46.85 | $45.05 | -3.83% |
May 16, 2025 | $44.70 | $44.21 | -1.11% |
Feb 27, 2025 | $39.32 | $39.27 | -0.11% |
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 (SSREY) report earnings?
Swiss Re (SSREY) is schdueled to report earning on May 07, 2026, Before Open (Confirmed).
What is Swiss Re (SSREY) earnings time?
Swiss Re (SSREY) 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 SSREY EPS forecast?
SSREY EPS forecast for the fiscal quarter 2026 (Q1) is 0.92.