Business Units at a glance

Working across diversified insurance risks and businesses to maximise shareholder value.

Reinsurance

Reinsurance provides clients and brokers with reinsurance products, insurance-based capital market instruments and risk management services. Reinsurance operates globally through two segments – Property & Casualty and Life & Health.

Net premiums earned and fee income (USD billions)

Property & Casualty

Reinsurance – Property & Casualty – Net premiums earned and fee income (USD billions) (bar chart)

Life & Health

Reinsurance – Life & Health – Net premiums earned and fee income (USD billions) (bar chart)

Net income (USD millions)

Property & Casualty

Reinsurance – Property & Casualty – Net income (USD millions) (bar chart)

Life & Health

Reinsurance – Life & Health – Net income (USD millions) (bar chart)

Return on equity

Property & Casualty

3.7%

(2017 –3.5%)

Life & Health

11.1%

(2017 15.3%)

Return on equity*

Property & Casualty

5.4%

Life & Health

12.1%

Operating performance

Property & Casualty

104.0%

Combined ratio
(2017 111.5%)

Life & Health

9.4%

Net operating margin
(2017 13.1%)

Corporate Solutions

Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customised products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind.

Net premiums earned and fee income (USD billions)

Corporate Solutions – Net premiums earned and fee income (USD billions) (bar chart)

Net income (USD millions)

Corporate Solutions – Net income (USD millions) (bar chart)

Return on equity

–19.4%

(2017 –32.2%)

Return on equity*

–18.5%

Operating performance

133.4%

Combined ratio
(2017 133.4%)

Life Capital

Life Capital manages closed and open life and health insurance books. It provides alternative access to the life and health risk pool, helping to generate stable returns and seize attractive new opportunities.

Net premiums earned and fee income (USD billions)

Life Capital – Net premiums earned and fee income (USD billions) (bar chart)

Net income (USD millions)

Life Capital – Net income (USD millions) (bar chart)

Return on equity

0.4%

(2017 2.2%)

Return on equity*

0.3%

Operating performance

818m

Gross cash generation
(2017 USD 998m)

Group

(After consolidation)

Net premiums earned and fee income (USD billions)

Group – Net premiums earned and fee income (USD billions) (bar chart)

Net income (USD millions)

Group – Net income (USD millions) (bar chart)

Return on equity

1.4%

(2017 1.0%)

Return on equity*

2.9%

Operating performance

2.9%

Net operating margin
(2017 2.8)

Diversified and global

Net premiums earned and fee income by business segments

(Total USD 34.5 billion)

47% P&C Reinsurance
37% L&H Reinsurance
11% Corporate Solutions
5% Life Capital
Net premiums earned and fee income by business segments (pie chart)

Net premiums earned and fee income by region

(Total USD 34.5 billion)
 

47% Americas
32% EMEA
21% Asia-Pacific
Net premiums earned and fee income by region (pie chart)

* For reference only, excludes the impact of the new US Generally Accepted Accounting Principles (GAAP) guidance on recognition and measurement of financial instruments, which was effective for the Group as of 1 January 2018 and was not retroactively applied.