Financial highlights and attribution of Group income

The financial figures in the table at the top provide information on the scale of the Swiss Re Group and income generated: total capitalisation broken down in terms of debt and equity, sales/revenues, operating costs and net income.

The information in the lower table shows the distribution of Group income to key stakeholders (employees, government taxes and shareholders).

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Financial highlights

USD millions

2018

2019

1

The Group agreed to sell its subsidiary ReAssure Group plc in December 2019 to Phoenix Group Holdings plc. The corresponding held for sale assets and liabilities, including investments and debt are separately disclosed on the balance sheet. Further details on the agreed sale are provided in Note 11 “Assets held for sale“ of the 2019 Financial Report.

Total assets

207 570

238 567

Total investments

147 302

103 7461

Total liabilities

178 843

207 530

Total debt

10 135

10 323

Common shareholders’ equity

27 930

29 251

 

 

 

Total revenues

37 047

49 314

Premiums earned and fee income

34 461

38 594

- P&C Reinsurance

16 095

19 275

- L&H Reinsurance

12 835

13 004

- Corporate Solutions

3 925

4 166

- Life Capital

1 606

2 149

Net investment income – non-participating business

4 075

4 171

 

 

 

Total expenses

–36 497

–48 405

Claims and claim adjustment expenses

–14 855

–18 683

Life and health benefits

–11 769

–13 087

Net income

421

727

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Attribution of Group income to key stakeholders

USD millions (unless otherwise stated)

2018

%

2019

%

1

Aggregate compensation for all employees was CHF 2 310 million in 2019. See 2019 Financial Report, chapter Compensation disclosure and shareholdings 2019.

2

FY 2019 is estimated based on the average monthly CHF/USD FX rate as of February 2020. The dividend is subject to AGM approval and the amount depends on the final number of dividend eligible shares and FX rates upon dividend payout.

3

Includes shares bought back between 6 May 2019 and 18 February 2020 as part of the buyback programme authorised at the AGM 2019. The total amount represents an estimate translated at the respective period average rate.

Income before tax and variable compensation

863

100%

1 218

100%

Variable compensation1

373

43%

351

29%

Income tax expense

69

8%

140

11%

US GAAP net income attributable to shareholders

421

 

727

 

of which paid out as dividend2

1 659

192%

1 766

145%

of which share buyback

1 020

118%

1 0103

83%

of which added to retained earnings within shareholders’ equity

–2 258

 

–2 049