Swiss Re (SSREY)
OTHER OTC:SSREY
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Swiss Re
(OTC:SSREY)
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Rating:67Neutral
Price Target:
$44.00
▼(-4.64% Downside)
Action:DowngradedDate:03/16/26
The score is driven primarily by improved profitability and balance-sheet strength, supported by a favorable valuation (low P/E and solid dividend yield) and a constructive earnings-call outlook with reaffirmed targets and strong capital returns. These positives are moderated by weaker technical momentum and uneven cash-flow quality signals.
Positive Factors
P&C underwriting strength
Sustained low combined ratios in P&C demonstrate disciplined underwriting and pricing power versus peers. Over the next 2–6 months this structural advantage supports predictable underwriting margins, capital retention after losses, and a durable earnings base through cycles.
Negative Factors
Sharp revenue contraction
A pronounced revenue decline erodes scale and diversifying revenue streams, limiting the firm’s ability to spread fixed costs and absorb large-loss variability. Over months this can constrain investment in growth initiatives and reduce underwriting leverage in key markets.
Read all positive and negative factors
Positive Factors
Negative Factors
P&C underwriting strength
Sustained low combined ratios in P&C demonstrate disciplined underwriting and pricing power versus peers. Over the next 2–6 months this structural advantage supports predictable underwriting margins, capital retention after losses, and a durable earnings base through cycles.
Read all positive factors
Swiss Re (SSREY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$43.80B
Dividend Yield4.42%
Average Volume (3M)6.68K
Price to Earnings (P/E)10.5
Beta (1Y)0.47
Revenue Growth-4.51%
EPS GrowthN/A
CountryUS
Employees15,000
SectorFinancial
Sector Strength70
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)0.54
Shares Outstanding1,195,046,900
10 Day Avg. Volume9,895
30 Day Avg. Volume6,678
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.99
Price to Sales (P/S)1.04
P/FCF Ratio16.47
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue1.17
Enterprise Value/Gross Profit1.17
Enterprise Value/Ebitda5.33
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)3.96
Revenue Forecast (FY)$43.48B
Swiss Re 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 primarily makes money by underwriting and managing risk for clients and earning returns on the capital it holds to support those risks. A major revenue stream is reinsurance: cedents (insurance companies) pay reinsurance premiums to Swiss...
Swiss Re Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
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.Positive Updates
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.
Negative Updates
Life & Health Assumption Updates and Earnings Impact
Detailed reviews of underperforming Life & Health portfolios led to negative assumption updates of ~USD 650 million for the full year (approx. USD 250 million in Q4), focused on Australia, Israel and South Korea, reducing the insurance service result for 2025.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
Management confirmed 2026 guidance with a group net income target of USD 4.5bn and a Life & Health Re (L&H) net income target of USD 1.7bn, reaffirmed P&C Re’s combined‑ratio target below 85% (management estimates a normalized starting point of ~84–84.5% post‑renewals) and Corporate Solutions’ target below 91% (2025 reported 86.5%; like‑for‑like ~80%). They reiterated resilience measures and capital plans: P&C Re added ~USD 200m to current‑year and ~USD 100m to prior‑year reserves, recycled ~USD 1bn of short‑tail redundancy into IBNR, increased loss assumptions by 4.6% (yielding a net price decrease of 4.3% on USD 12.4bn of renewed treaty premium), set a nat‑cat budget of USD 2.1bn, and achieved >USD 100m of cost savings in 2025 on track to a USD 300m operating cost run‑rate reduction by 2027. Capital and financial metrics included a proposed dividend of USD 8/share (+9%), a USD 500m sustainable buyback and a USD 1bn extraordinary buyback (total payout ~USD 3.9bn, ~80% of 2025 earnings), ~USD 4.7bn of SST capital generated in 2025 and an SST ratio of ~250%; 2025 results included group net income USD 4.8bn (ROE 20%), insurance revenue USD 43.1bn, L&H CSM ~USD 17bn, investment ROI ~4.0% with a recurring yield ~4.2% (recurring investment income ~USD 4bn), and L&H assumption updates that hit P&L by ~USD 650m in 2025 (≈USD 250m in Q4) with ~USD 300m of adverse experience.Swiss Re Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 48.19B | 46.76B | 43.64B | 46.04B | 45.94B |
| Gross Profit | 48.19B | 43.14B | 40.32B | 38.24B | 37.70B |
| EBITDA | 6.59B | 4.27B | 4.26B | 1.65B | 3.07B |
| Net Income | 4.76B | 3.24B | 3.11B | 472.00M | 1.44B |
Balance Sheet | |||||
| Total Assets | 134.01B | 127.23B | 179.58B | 170.68B | 181.57B |
| Cash, Cash Equivalents and Short-Term Investments | 2.74B | 88.64B | 88.38B | 85.61B | 4.15B |
| Total Debt | 8.98B | 7.26B | 9.82B | 11.04B | 11.19B |
| Total Liabilities | 108.71B | 103.99B | 163.21B | 157.87B | 157.89B |
| Stockholders Equity | 25.11B | 23.11B | 22.31B | 12.70B | 23.57B |
Cash Flow | |||||
| Free Cash Flow | 3.04B | 3.13B | 4.09B | 2.93B | 4.10B |
| Operating Cash Flow | 3.04B | 3.13B | 4.09B | 2.93B | 4.10B |
| Investing Cash Flow | -2.29B | -407.00M | -362.00M | -2.34B | -2.14B |
| Financing Cash Flow | -2.14B | -2.97B | -3.22B | -1.24B | -2.10B |
Swiss Re Technical Analysis
Positive
46.14
Price Trends
40.33
Positive
40.03
Positive
42.07
Positive
Market Momentum
0.44
Negative
63.95
Neutral
49.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SSREY, the sentiment is Positive. The current price of 46.14 is above the 20-day moving average (MA) of 40.28, above the 50-day MA of 40.33, and above the 200-day MA of 42.07, indicating a bullish trend. The MACD of 0.44 indicates Negative momentum. The RSI at 63.95 is Neutral, neither overbought nor oversold. The STOCH value of 49.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SSREY.
Swiss Re Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $4.70B | 5.67 | 22.09% | ― | 20.12% | 98.92% | |
79 Outperform | $12.76B | 10.75 | 27.25% | 0.57% | -8.19% | 90.81% | |
76 Outperform | $15.87B | 5.04 | 13.31% | 2.37% | -0.63% | 147.68% | |
75 Outperform | $2.72B | 5.55 | 20.87% | ― | 23.09% | 279.95% | |
73 Outperform | $13.67B | 11.38 | 9.48% | 1.76% | 6.95% | 65.32% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $43.80B | 10.49 | 14.51% | 4.42% | -4.51% | ― |
* Financial Sector Average
SSREY
Swiss Re
40.42
-4.13
-9.27%
EG
Everest Group
353.57
14.53
4.29%
RGA
Reinsurance Group
208.68
16.07
8.35%
RNR
Renaissancere Holdings
299.30
53.98
22.00%
SPNT
SiriusPoint
23.25
5.07
27.89%
HG
Hamilton Insurance Group, Ltd. Class B
31.58
13.77
77.31%
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.