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Swiss Re records 17-point decline in solvency test ratio

Written by Adam Cadle
19/04/2021

Swiss Re has reported a group solvency ratio of 215%, marking a decrease of 17 percentage points year-on-year, as measured by the Swiss solvency test (SST).

In its latest Financial Condition Report, Swiss Re said the decrease is “mainly driven by COVID-19-related claims and reserves, the significant decline in interest rates and higher financial market volatilities”.

These effects are partly offset by the sale of ReAssure Group, “a positive investment and underwriting performance (excluding COVID-19) and high supplementary capital”, Swiss Re added.

The Group SST 2021 ratio lies within the new target range of 200‒250%, which replaces the fixed Group SST target to better align with market practice.

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