Swiss Re aims to exceed 3.6 billion USD in net profit by 2024

Following its transition to IFRS accounting standards, Swiss Re has set itself new targets for the financial year 2024:

• a net profit of over 3.6 billion USD, 1.5 billion USD of which would be generated by L&H Re
• a combined ratio below 87% for P&C Re and below 93% for the Corporate Solutions subsidiary
• a multi-year return on equity (ROE) exceeding 14%.

The reinsurer will switch to IFRS accounting standards starting 1 January 2024. Prior to this, the Swiss group had been reporting its results in accordance with US GAAP.