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Swiss Re Raises Cost-Cut Target as Second-Quarter Profit Tops Estimates

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Sig2.15Sen+4.60Env0.00Soc0.00Gov+0.65

Swiss Re reported $1.3 billion profit in the second quarter and $2.8 billion net income for the first half. The reinsurer raised its operating-cost reduction target to $500 million by 2028, streamlined via non-client-facing operations, while lower major catastrophe losses boosted results. It also set aside $400 million in additional reserves amid inflation and uncertainty, and noted higher life & health reinsurance income but a missed 2025 target.

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