Swiss Re Share Price Falls After Disappointing Results

Zurich, Switzerland - September 29, 2023

Swiss Re's share price fell by more than 5% on Thursday after the reinsurance company reported disappointing results for the first nine months of 2023.

The company's net income fell by 12% to CHF 2.2 billion ($2.3 billion), while its combined ratio - a measure of underwriting profitability - rose to 99.4% from 98.1% in the same period last year.

Swiss Re said that the results were due to a number of factors, including the war in Ukraine and rising inflation. The company also said that it had been hit by a number of large natural catastrophes, including Hurricane Ian in the United States and the floods in Pakistan.

Analysts said that the results were disappointing, but they noted that Swiss Re is still a strong company with a good track record. They said that the company's share price is likely to recover in the long term.

Swiss Re's share price has fallen by more than 20% in the past year.