Zurich (awp) – Fitch has raised the long-term issuer rating of Swiss Re. The American rating agency has awarded the Zurich reinsurer an ‘A+’ rating, compared to ‘A’ previously.
The increase primarily reflects “the lasting improvement in actuarial profitability, the reduction in financial debt and the strengthening of reserves” of the world’s second largest reinsurer. The capitalization of Swiss Re is strengthened, observes the rating agency.
Fitch also welcomes the performance presented after nine months. Swiss Re has a very solid return on equity of 13.4% and a combined ratio of 92.8% for property and casualty insurance.
Although the result “was achieved under favorable market conditions”, Fitch believes that “the reversal in revenue trend since 2023 is expected to be sustainable due to the long-term benefits of effective management measures implemented in recent years. years”. As a result, Fitch anticipates strong financial performance over the next 12 to 24 months, even in potentially less favorable market conditions.
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