Swiss Re, one of the world’s leading providers of reinsurance, insurance and insurance-based risk transfers, has published its Annual Report 2025 and the invitation to the 2026 Annual General Meeting (AGM), which will take place on 10 April 2026 in Switzerland’s Dubendorf.
The venture posted a net income of USD 4.8 billion, marking a substantial 47% increase from the prior year. Capital position remained strong, with an estimated “Group Swiss Solvency Test” ratio of 250% as of January 1, 2026. It will also be continuing with a share buyback initiative valued at USD 1.5 billion, which will be further complemented by a dividend payment of CHF 8.00 per share for 2025.
By 2028, Swiss Re will be looking to grow its annual dividend by a minimum of 7%, while expanding its presence within the credit insurance sector. The venture’s planned acquisition of the global credit and surety business from Australia’s QBE Insurance for the markets of Australia, New Zealand, and the United Kingdom, subject to regulatory approval, will likely contribute approximately USD 200 million in annual revenue.
The Property & Casualty Reinsurance (P&C Re) unit emerged as the primary growth engine for Swiss Re. While the division’s net income more than doubled to USD 2.8 billion, the P&C combined ratio improved dramatically to 79.4%. Swiss Re’s return on equity (ROE) climbed to 19.6%, exceeding its own target. However, performance in the Life & Health Reinsurance segment was less positive, as the net income there declined to USD 1.3 billion, falling short of the targeted figure of around USD 1.6 billion.
Talking about the invitation for the 2026 AGM, it contains several proposals for shareholders to consider: the approval of the Annual Report and the annual and consolidated financial statements for 2025 and a consultative vote on the Sustainability Report 2025; the distribution of an ordinary dividend of USD 8.00 per share for the 2025 financial year; and several board-related proposals, including the re-election of all current members (except Larry Zimpleman, who will not stand for re-election) for a one-year term, the re-election of Jacques de Vaucleroy as a Board member and Chairman, and the election of Jean-Jacques Henchoz as a new member.
Talking about Larry Zimpleman, the latter has been an insurance industry veteran, spending more than four decades in the sector, before retiring in 2016 as chairman of The Principal Financial Group. The Swiss Re board has nominated Jean-Jacques Henchoz, the former CEO and Chairman of the Executive Board of Hannover Re, as Zimpleman’s successor. Henchoz led Hannover Re as chief executive from 2019 to 2025. Before that, he spent two decades at Swiss Re in senior roles, including CEO Reinsurance EMEA and member of the Group Executive Committee.
The company, in February 2026, also announced the appointment of BlackRock veteran Henock Teklu as group chief transformation officer. He will be joining the Swiss Re’s executive committee in April this year.