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Annual Report 2017

Financial highlights

Swiss Re delivered a Group net income of USD 331 million, supported by a continued solid underwriting performance and a strong investment result.

For the years ended 31 December

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USD millions, unless otherwise stated

2016

2017

Change in %

1

Return on equity is calculated by dividing net income/loss attributable to common shareholders by average common shareholders’ equity.

2

Regular staff.

3

Gross cash generation is the change in excess capital available over and above the target capital position, with the target capital being the minimum statutory capital plus the additional capital required by Life Capital’s capital management policy.

Group

 

 

 

Net income attributable to common shareholders

3 558

331

–91

Gross premiums written

35 622

34 775

–2

Premiums earned and fee income

33 231

33 705

1

Earnings per share in CHF

10.55

1.02

–90

Common shareholders’ equity

34 532

33 374

–3

Return on equity in %1

10.6

1.0

 

Return on investments in %

3.4

3.9

 

Net operating margin in %

13.0

2.8

 

Number of employees2

14 053

14 485

3

Property & Casualty Reinsurance

 

 

 

Net income/loss attributable to common shareholders

2 100

–413

—

Gross premiums written

18 149

16 544

–9

Premiums earned

17 008

16 667

–2

Combined ratio in %

93.5

111.5

 

Net operating margin in %

15.4

–1.3

 

Return on equity in %1

16.4

–3.5

 

Life & Health Reinsurance

 

 

 

Net income attributable to common shareholders

807

1 092

35

Gross premiums written

12 801

13 313

4

Premiums earned and fee income

11 527

11 980

4

Net operating margin in %

10.4

13.1

 

Return on equity in %1

12.8

15.3

 

Corporate Solutions

 

 

 

Net income/loss attributable to common shareholders

135

–741

—

Gross premiums written

4 155

4 193

1

Premiums earned

3 503

3 651

4

Combined ratio in %

101.1

133.4

 

Net operating margin in %

4.2

–23.5

 

Return on equity in %1

6.0

–32.2

 

Life Capital

 

 

 

Net income attributable to common shareholders

638

161

–75

Gross premiums written

1 489

1 761

18

Premiums earned and fee income

1 193

1 407

18

Gross cash generation3

721

998

38

Net operating margin in %

27.0

10.9

 

Return on equity in %1

10.4

2.2