Swiss Re reports $2.8 billion H1 net profit

Swiss Re reported a net profit of $2.8 billion for the first half of 2026, representing a 9 percent increase compared to the previous year. The company remains on track to meet its annual target of $4.5 billion.

The growth was primarily driven by strong performance in the Property & Casualty (P&C Re) segment, which saw net profits rise 18 percent to $1.4 billion. Conversely, the Life & Health (L&H Re) segment experienced lower transaction activity, with New Business CSM falling to $338 million from $569 million in the prior year.

In response to its financial results, Swiss Re has increased its efficiency targets, aiming for $500 million in cost reductions by 2028, up from a previous goal of $300 million by 2027. These cuts will focus on non-customer-facing teams. Additionally, the company announced leadership changes, including the appointment of Velina Peneva as the new CEO of the L&H Re segment, effective October 1.