FX.co ★ Swiss Re FY23 Profit Surges, Lifts Dividend; Backs FY24 Earnings View

Swiss Re Ltd., trading as SSREY.PK, has announced a significant increase in net income for 2023, rising to $3.21 billion, up from the previous year's $472 million.

In the final quarter, the net income was noted to be $748 million. There was a 4.4% year-over-year increase in full-year net premiums earned and fee income, reaching $45.00 billion compared to the previous year's total of $43.12 billion. When adjusting for foreign exchange rates, the growth rate for net premiums earned and fee income was 4.9%.

The company also announced that its Board of Directors aims to propose a 6% dividend increase to $6.80 per share at the Annual General Meeting set for April 12.

Looking forward to 2024, Swiss Re anticipates a net income exceeding $3.6 billion under International Financial Reporting Standards (IFRS), which would mark an increase from the previous year.