Swiss Re Senkt Gewinnprognose Durch US-Schäden

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Post on Nov 07, 2024

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Swiss Re Cuts Profit Forecast Due to US Hurricane Losses

Swiss Re, a leading global reinsurer, has announced a cut to its profit forecast for 2023, citing significant losses from Hurricane Idalia and other natural disasters in the United States. The company now expects an underlying net income of $5.5 billion to $6.5 billion for the full year, down from a previous forecast of $6.5 billion to $7.5 billion.

Impact of Hurricane Idalia and Other Disasters

The revised forecast is primarily attributed to the high costs associated with Hurricane Idalia, which struck Florida in August 2023, causing widespread damage and flooding. The hurricane, along with other natural disasters in the US, has significantly impacted Swiss Re's catastrophe losses for the year.

Christian Murer, Swiss Re's Group CEO, acknowledged the impact of these events, stating that "The recent US hurricane season has been exceptionally active, resulting in significant losses for the industry, including Swiss Re."

Continued Growth in Other Areas

Despite the downward revision in profit expectations, Swiss Re remains optimistic about its overall performance. The company reported strong growth in its core businesses, particularly in property and casualty reinsurance. This positive trend is expected to continue in the coming quarters.

Reinsurance Industry Facing Challenges

Swiss Re's announcement reflects a broader trend in the reinsurance industry, which is facing increasing pressure from climate change and the growing frequency and severity of natural disasters. The industry is actively adapting to these challenges, implementing new risk management strategies and investing in technology solutions to better assess and mitigate risks.

Swiss Re's decision to cut its profit forecast highlights the potential impact of natural disasters on the global reinsurance market. As climate change continues to drive more extreme weather events, the industry is expected to face further challenges in the years to come.

Key Takeaways

• Swiss Re lowered its profit forecast for 2023 due to significant losses from Hurricane Idalia and other natural disasters in the US.
• The company expects an underlying net income of $5.5 billion to $6.5 billion for the full year.
• Swiss Re's core businesses, particularly property and casualty reinsurance, continue to show strong growth.
• The reinsurance industry faces increasing challenges from climate change and the growing frequency and severity of natural disasters.

This article is for informational purposes only and should not be considered investment advice.