Swiss Re aims for 2024 return on equity of 14%

BERLIN (Reuters) – Swiss Re is aiming for a return of equity on 14% in 2024 through higher profit contributions from its L&H Re and cost discipline, the world’s second biggest reinsurer said.

“Despite the COVID-19 pandemic, the underlying L&H Re business continues to perform strongly,” said Chief Executive Christian Mumenthaler on Swiss Re’s Investors’ Day on Thursday.

For P&C Re, the aim is for disciplined growth, with expansion in the natural disaster business, according to Swiss Re.

The company’s capital management priorities would remain unchanged, said Swiss Re. These include ensuring superior capitalisation, increasing the ordinary dividend in line with long-term earnings and deploying capital for profitable growth.

(Writing by Miranda Murray; Editing by Paul Carrel)