Swiss Re AG (0QL6) Q1 2025 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Swiss Re Ag.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.499 Good morning or good afternoon. Welcome to Swiss Re's first quarter 2025 key financial 00:00:05.499 -- 00:00:10.446 data conference call. Please note that today's conference call is being recorded. 00:00:10.446 -- 00:00:14.772 At this time, I would like to turn the conference over to Andreas Berger, Group CEO. 00:00:14.772 -- 00:00:16.795 Please go ahead. 00:00:16.795 -- 00:00:21.741 Thank you very much and good morning or good afternoon to all of you. 00:00:21.741 -- 00:00:25.467 I appreciate you taking the time to join us today. 00:00:25.467 -- 00:00:29.913 Before our Group CFO, our new Group CFO actually for his first time under his master 00:00:29.913 -- 00:00:35.292 in walks you through the details of our Q1 results, I'd like to start with some 00:00:35.292 -- 00:00:38.133 brief introductory remarks. 00:00:38.436 -- 00:00:43.482 We have achieved a good start to the year, delivering a first quarter net income of 00:00:43.482 -- 00:00:48.910 $1.3 billion and a return on equity of 22%. 00:00:48.910 -- 00:00:54.057 All business units contributed to this result, also helped by strong investment 00:00:54.057 -- 00:00:59.263 returns, and this gives us a very good base as we approach the rest 00:00:59.263 -- 00:01:01.102 of the year. 00:01:01.102 -- 00:01:06.448 Our financial results were achieved against the backdrop of a quarter that featured significant 00:01:06.448 -- 00:01:09.671 large losses on the P&C side. 00:01:09.671 -- 00:01:14.896 Across P&C RE and corporate solutions, large losses amounted to 900 00:01:14.896 -- 00:01:20.142 million US dollars, with the LA wildfires contributing around two 00:01:20.142 -- 00:01:23.806 thirds of that total number, consistent 00:01:23.806 -- 00:01:28.891 with a preliminary estimate of below...