Swiss Re sets 2026 target of $4.5 billion in net income
Swiss Re unveiled its 2026 financial targets, including net income of USD 4.5 billion, supported by a refreshed strategy centered on strengthening its core businesses and accelerating its use of data and AI across underwriting, claims, and operations. The group plans to introduce a USD 500 million annual share buyback program beginning in 2026, complementing its existing dividend growth target of 7% or more per year.
The reinsurer said it has materially completed its portfolio review in Life & Health Re, with assumption updates—primarily in Australia, Israel, and South Korea—expected to reduce fourth-quarter IFRS earnings by roughly $250 million. Targets for all business units were maintained or raised, including an increased 2026 net income target of USD 1.7 billion for L&H Re.
Swiss Re reiterated its multi-year IFRS ROE target of above 14% and said it is on track to cut $300 million in operating expenses by 2027. The company emphasized that its long-standing investment in data infrastructure and early adoption of AI will continue to drive productivity improvements and more informed risk decisions across the organization.
“We continue to strengthen the foundations of our business. This year in particular, we accelerated efforts to improve the resilience of our in-force book in L&H Re. Along with the other actions we have taken, this gives us the confidence to increase our target for that Business Unit in 2026, contributing to an updated Group net income target of USD 4.5 billion. Today we are a stronger Swiss Re — delivering resilient earnings and leveraging a powerful data and AI platform to drive smarter decisions, deeper risk insights and long-term value for our clients. As we look ahead, we continue to focus our efforts and resources firmly on our core markets. Conditions remain constructive, supported by structural growth. This puts us in a strong position for 2026 and beyond.” – Swiss Re’s Group Chief Executive Officer Andreas Berger.
