GLRE - Swiss Re Forecasts Higher Rates After Catastrophes Hit 2018 Results
Global reinsurance giant Swiss Re (SSREY) is forecasting improving rate conditions across insurance and reinsurance business after its results were dented by catastrophe losses in property and casualty lines and its commercial underwriting arm.
Swiss Re reported its full-year 2018 results Thursday, suffering technical underwriting losses across its P&C reinsurance arm and Corporate Solutions unit thanks to the impacts of catastrophe loss events.
Swiss Re's P&C reinsurance unit reported positive net income of $370 million, but was hit by $2.3 billion of large claims during the year, resulting in a combined ratio of 104% and