Swiss Re and Aviva Top Estimates as Insurer Earnings Surge on Low Claims

Reinsurer Swiss Re posted a first-half 2025 net income of $2.61 billion, 24 percent higher than a year earlier and ahead of the $1.99 billion analysts expected. The property-and-casualty combined ratio improved to 81.1 percent from 84.3 percent, while return on investments reached 4.1 percent. Management kept full-year targets unchanged, citing subdued large-loss claims and continued price increases at recent renewals. U.K. composite insurer Aviva reported adjusted operating profit of £1.07 billion for the same period, topping the £960 million consensus. IFRS profit after tax rose to £819 million, and the company said it remains on track to hit 2025 group objectives. Motor specialist Admiral also exceeded forecasts, delivering first-half pretax profit of £521 million versus the £481 million predicted and earnings per share of 132.5 pence against 122.2 pence estimated. In Australia, Suncorp’s full-year cash earnings climbed 8 percent to A$1.49 billion, beating expectations and enabling the insurer to announce an on-market share buyback of up to A$400 million (US$262 million). Lower natural-hazard costs and stronger investment returns underpinned the performance.