Swiss Re reported a net profit of $2.8 billion for the first half of 2026, up from $2.6 billion in the same period a year earlier, putting the reinsurer well on course to meet its full-year earnings target.
First-half results account for more than 60% of the group's $4.5 billion net profit goal for 2026, according to credit rating agency AM Best, which maintained a stable outlook on Swiss Re's financial strength and credit ratings on the back of the performance.
The reinsurer posted an annualized return-on-equity ratio of 22.7% in the first half, supported by solid underwriting margins, stable investment returns, and lower-than-budgeted losses from natural catastrophes and man-made events. Improving mortality trends are also bolstering earnings in its long-term business segment.
AM Best cited Swiss Re's conservative investment management, low dependence on external risk sharing, a strong balance sheet, and robust capital reserves as factors backing the company's financial stability. The rating agency noted that the insurer's established global presence, insurance service revenue, and geographic diversification position it to navigate shifts in broader market conditions.
For context, Swiss Re generated $43.1 billion in insurance service revenue at year-end 2025, with an adjusted financial leverage ratio of 12.1% at the same date.
