Consistently outperforming the market in profitability

Property & Casualty Reinsurance has consistently outperformed the market. Combining the results from Swiss Re and six of our peers, the results show that we have extracted a higher share of the industry’s profits than our market share would suggest — meaning principally that solid underwriting has been a key driver of shareholder value.

This also applies, coincidentally, in 2011, when our industry experienced extraordinarily high natural catastrophe losses but the impact on Swiss Re was relatively smaller compared to peers.

P&C Reinsurance revenues and operating income share vs top reinsurers (bar chart)

1 Operating income is income before interest for financial debt, excludes realised capital gains/losses.
2 Data for Munich Re and Hannover Re extrapolated from 9 months results.
Top 7 reinsurers include: Swiss Re, Munich Re, Hannover Re, Partner Re, SCOR, Everest Re, Alleghany
Source: Swiss Re Economic Research and Consulting