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Swiss Re Posts FY Profit - Quick Facts

Swiss Re Ltd. (SSREY.PK) reported that its net income attributable to common shareholders for fiscal year 2021 was $1.44 billion or $4.78 per share compared to a loss of $878 million or $3.04 per share in the prior year.

The result was achieved as the Group absorbed large natural catastrophe losses of $2.4 billion across its businesses as well as total COVID-19-related claims of $2.0 billion. The vast majority of the COVID-19 losses originated in the L&H Re business, while impacts on the property and casualty businesses were minimal. Excluding the impacts of COVID-19, Swiss Re's net income was $3.0 billion, which is an increase of 39%.

Net premiums written were $43.22 billion up from $39.83 billion in the previous year.

Annual total revenues grew to $46.74 billion from $43.34 billion last year.

The company noted that its board will propose a stable dividend of CHF 5.90 per share at the Annual General Meeting on 13 April 2022.

Swiss Re targets to increase its US GAAP Group ROE to 10% in 2022 and to 14% in 2024. In addition, Swiss Re maintains its economic net worth per share growth target of 10% per annum.

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