BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Swiss Re (SSREY.PK) confirmed its over-the-cycle financial targets. The Group reiterated its capital management priorities, focusing on capitalisation and a stable or increasing dividend.
Swiss Re CEO Christian Mumenthaler said: 'We are optimistic on the outlook for all of our businesses as we see positive momentum in the underlying earnings power of the Group. We expect that COVID-19 will remain an earnings and not a capital event for the Group, with declining exposures going forward. Our strategy positions Swiss Re for long-term success.'
Swiss Re expects Property & Casualty Reinsurance or P&C Re to improve its normalised combined ratio to less than or equal to 96% in 2021. Life & Health Reinsurance (L&H Re) maintained its successful track record, despite COVID-19 impact. The company said Corporate Solutions' turnaround is well on track, with the business confident of achieving a normalised combined ratio that is less than or equal to its 98% target in 2021.
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