• COVID-19-related claims and reserves rose from $0.5bn for Q1 20 to $2.5bn for H1 20 • Net loss of c.$1.1bn for H1 20 compared to a net profit of $953m for H1 19 • Closing of ReAssure sale pushed the SST ratio above the target level of 220%, despite the significant claims and reserves set up in H1 20
23 Jul 2020
Big loss in H1 20 due to COVID-19 provisions
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Big loss in H1 20 due to COVID-19 provisions
Swiss Re AG (0QL6:LON) | 0 0 (-0.7%) | Mkt Cap: 32,740m
- Published:
23 Jul 2020 -
Author:
Dieter Hein -
Pages:
2
• COVID-19-related claims and reserves rose from $0.5bn for Q1 20 to $2.5bn for H1 20 • Net loss of c.$1.1bn for H1 20 compared to a net profit of $953m for H1 19 • Closing of ReAssure sale pushed the SST ratio above the target level of 220%, despite the significant claims and reserves set up in H1 20