Swiss Re has reported net income of £1.6bn for the first six months of 2024. This was up on the £1.4bn posted for the same period last year. Its P&C reinsurance net income for the period was £754m, up from £742m. Its combined ratio for its P&C business deteriorated from 81.8% to 84.6%. Its Corporate Solutions business posted a net income of £332m, up from £242m and a combined ratio of 88.7%, which had improved from 89.2%.

Andreas Berger, group CEO for Swiss Re, said: “Swiss Re's performance in the first half of 2024 reflects our focus on delivering consistent results. We continue to increase the overall resilience of the firm through a disciplined approach to underwriting new business while remaining on top of loss trends across our in-force portfolios.”