# Swiss Re 2023 net profit surges, in line with expectations
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2024-02-16
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Swiss Re 2023 net profit surges in line with expectations
Meta Description: Swiss Re's 2023 net profit surges 580% in line with expectations, marking a recovery year from previous difficulties. CEO Christian Mumenthaler highlights
URL: https://financedigest.com/swiss-re-2023-net-profit-surges-in-line-with-expectationshtml

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FRANKFURT (Reuters) -Reinsurance company Swiss Re said on Friday that net profit for 2023 surged 580%, in line with expectations, as it recovered from a difficult period a year earlier.

The net profit of $3.214 billion for the year compares with a profit of $472 million a year earlier. Analysts had expected a profit of $3.263 billion, according to a consensus forecast.

The profit marks a recovery from 2022, when the company was absorbing claims from Hurricane Ian in Florida, and as the war in Ukraine, inflation and volatile markets also dampened performance.

The company proposed a 6% increase in its dividend to $6.80 per share.

“We achieved all our financial targets in a year that was characterised by geopolitical turbulence and continued economic uncertainty,” said Chief Executive Officer Christian Mumenthaler.

(Reporting by Tom SimsEditing by Miranda Murray)


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