The Swiss Re Group An Introduction 3–10 11 –16 17 –28 29–34
About us Group overview Our business What sets us apart
35–37 38–39
Swiss Re Swiss Re Institute Foundation About us Our mission We make the world more resilient.
March 2021 4 Together, we apply Our vision fresh perspectives, knowledge and capital to anticipate and manage risk.
That’s how we create smarter solutions for our clients, helping the world rebuild, renew, and move forward.
March 2021 5 Our people We are an inclusive organisation of diverse talents.
Collaborating across the globe, we apply our unique perspectives and know-how to make the world more resilient.
March 2021 6 AMERICAS EMEA APAC Our global presence
Brazil Belgium Liechtenstein Australia 121 nationalities Canada Denmark Luxembourg China Colombia France Netherlands India 13 189 employees Mexico Germany Slovak Republic Japan USA Ireland South Africa Malaysia Israel Spain New Zealand Network of 81 offices in 29 countries Italy Switzerland Singapore Ivory Coast United Kingdom South Korea
March 2021 7 1863 Swiss Re is founded in Zurich, 1906 Switzerland Swiss Re pays its largest claims so far for the San Francisco Earthquake 1910 Swiss Re opens its first foreign office in New York 1950s laying the foundations for its international expansion Our history Swiss Re extends its global presence with offices in Canada, Australia, South Africa, and Hong Kong 19 December 1863 1960 Swiss Re founds the Swiss Insurance Training 1968 Centre to support emerging markets Swiss Re launches its famous sigma publications to serve clients around the globe 1992 Swiss Re takes the lead in developing insurance- 1995 linked securities to supply additional cover In the Swiss Re signs the 'Statement of Environmental wake of Hurricane Andrew Commitment by the Insurance Industry' in the context of the United Nation's Environmental Programme (UNEP) 2000 Swiss Re opens its Centre for Global Dialogue 2007 in Rueschlikon Swiss Re expands its commitment to sustainability considerations in investment decision making by signing UN Principles for Responsible Investment (UNPRI) 2013 Swiss Re marks its 150 years 2020 anniversary Swiss Re Institute opens a new center in China March 2021 8 The “Swiss Cross” Swiss Re’s first reinsurance treaties were affixed with a company stamp. In the early 20th century, the shape of the 1864 symbol became circular
The “Altbau” In this period, Swiss Re used only its company name Our brand and no logo. An image of the Altbau building was 1950s Evolution of Swiss Re logo shown on the covers of the annual reports
The “SR” In connection with Swiss Re’s 100-year anniversary, a striking logo did emerge. It depicted the letters S 1960 and R as mirror images of each other
The “Pillars” A corporate identity was developed to establish Swiss Re as both a leading, modern company and an international brand. It 1995 included the new abstract logo and the company colour “Lake” ab
The “Power Symbol” On the occasion of Swiss Re's 150-year anniversary, the company introduced a 2013 modernised version of the logo
March 2021 9 Our leadership Group Executive Committee
March 2021 10 Group overview We operate as ‘One Swiss Re’
Risk Knowledge Client Collaboration A leading global reinsurer Leadership & Access Reinsurance
Capital Strength
Our People
A specialised risk partner with direct
Risk Knowledge Client Collaboration Leadership & Access Corporate Solutions Capital Strength access to corporate customers Our People
A globally leading digital B2B2C
Risk Knowledge Client Collaboration Leadership & Access iptiQ Capital Strength insurance platform Our People
A balanced approach to accountability,
Risk Knowledge Client Collaboration Leadership & Access Group foundation Capital Strength shared values and strengths Our People
March 2021 12 Our strategy offers more than traditional risk transfer
sigma research SONAR New emerging risks insights
SwiftRe® Surety Client Portal Magnum Ex Tool CatNet® MPL for explosions
PUMA FacEasy Engineering underwriting PULSE Online risk management
Public sector Traditional risk Large and complex risk transfer transfer transactions March 2021 13 Excl. Covid-19
Net income -0.9bn 2.2bn 2019: 0.7bn Premiums earned and fee income 40.8bn Group financial 2019: 38.6bn Common 30.2bn shareholder’s equity 27.1bn performance 2019: 29.2bn Return on equity -3.1% 7.3% Group Results 2020 (USD) 2019: 2.5% Return on investments 3.5% -0.9bn 2019: 4.7% P&C Re combined ratio 109.0% 99.8% 2019: 107.8% Net income L&H Re net operating margin 2.9% 9.4% excl. Covid-19 2019: 10.0% Corporate Solutions combined ratio 116.5% 93.2% 2019: 127.9% 2019: 0.207bn March 2021 14 P&C Re
Group financial L&H Re performance Corporate Solutions
Life Capital Ratings (02/2021)
EMEA – AA Aa3 A+ Americas
Asia
March 2021 15 Investment portfolio
Cash and cash Short term equivalents investments FY 2020 4% 13% Government Credit bonds bonds 27% USD bn 39% Equities Mortgages and 7% other loans 3% 125.7 3.5% Other investments (incl. policy) 7%
March 2021 16 Our business Our Reinsurance Business Unit covers both Property & Casualty (P&C) and Life & Health (L&H).
We're a leading, diversified Reinsurance global reinsurer, providing expertise and services to clients throughout the world, since 1863.
What sets us apart is our financial strength, unrivalled knowledge and expertise, quality underwriting and, FY 2020 most importantly, our partnership approach with clients.
We collaborate with our clients to understand their needs, and subsequently develop solutions 34.7 that capitalise on the quality of our expertise. USD bn
March 2021 18 Geographically diversified premium split % of net earned premium by geography 2020
Americas Reinsurance P&C EMEA Asia
Portfolio composition % of net earned premium by segment 2020
FY 2020 Property Premiums earned Combined ratio Liability
Motor Accident & Health 20.8 109.0% Engineering Credit & Surety
99.8% Other specialty USD bn Excl. Covid-19 Marine
March 2021 19 Geographically diversified premium split % of net earned premium by geography 2020
Americas Reinsurance L&H EMEA Asia
Portfolio composition % of net earned premium by segment 2020
FY 2020
Premiums earned Net operating margin Mortality and fee income Critical illness
Disability 13.9 2.9% Medical 9.4% Other liability USD bn Excl. Covid-19
March 2021 20 During 2020 we paid We make the world USD 10.9 bn more resilient in P&C claims
Reinsurance claims USD 10.8 bn in L&H claims
which translates into 3 223 235m clients L&H policies benefitting reinsured from our P&C support
March 2021 21 Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world.
At Swiss Re Corporate Solutions, we are relentlessly addressing industry Corporate Solutions inefficiencies and customer and broker pain points to transform corporate Advancing corporate insurance together insurance.
By combining fresh, innovative FY 2020 perspectives with tech-driven solutions and applied expertise, we are leading the industry forward. We are rethinking corporate insurance with you in mind. 4 116.5% 93.2% USD bn Excl. Covid-19
March 2021 22 Geographically diversified premium split % of net earned premium by geography 2020
North America
Latin America
Corporate Solutions EMEA portfolio Asia
Portfolio composition % of net earned premium by segment 2020
Property
Other liability 55% 24% 21 % Accident & Health Credit & Surety
Other specialty
March 2021 23 During 2020 we closed Corporate ~200 innovative Solutions transactions
Corporate claims protected +12 700 large and mid- corporate customers and paid USD 2.7bn
March 2021 24 Provide fresh and innovative perspectives #1 We push the status quo and seek better, more sustainable ways to manage risk Integrate analytics and tech- through our thought leadership, research #2 driven solutions and new perspectives Our value We are creating state-of the-art, highly scalable and innovative risk management solutions, powered by data and technology proposition Understand and deliver on customer needs #3 We focus relentlessly on our customers, Our Corporate Solutions providing a superior experience and fit-for- Make it easy to do value proposition makes six purpose solutions that address their needs #4 business with us promises to our customers We work together with our customers and partners to develop holistic, integrated and easy-to-implement solutions and experiences Apply knowledge and expertise #5 We use our unparalleled risk expertise Deliver effective, high and solid financial strength to ensure #6 our customers’ businesses are performance protected in a changing world We challenge ourselves by relentlessly going above and beyond to work more efficiently, commercially and customer-oriented. We lead with courage
March 2021 25 iptiQ is a risk and technology company owned by Swiss Re aiming to make insurance more accessible and affordable.
Its digital platform helps insurance carriers and distribution partners accelerate access to new customers and products.
Around the globe, iptiQ provides a cutting edge B2B2C digital insurance platform, world-class underwriting and high-value products.
650+ >650K 40 >2bn
March 2021 26 Proprietary Insurance Platform
✓Product design ✓Sales platform B2B2C ✓Automated UW ✓Servicing platform business model ✓Pricing engine Products
L&H Term & Whole Life; Accident; Critical Illness; Health Add-Ons
RT R P&C I Travel; Cyber; Mobility; Home
March 2021 27 Swiss Re Public Sector Solutions is dedicated to helping governments at all levels to strengthen their resilience strategies.
Public Sector Building resilience to major shocks is a mounting priority for many governments. The reasons are clear: by planning Solutions ahead, using established and innovative risk management tools, authorities can reduce threats, as well as physical and financial impacts on people, property and infrastructure.
Whether it concerns climate change, the USD m hurtling development of new technologies, or the growing threat of pandemics, insurance helps to save lives, 670+ 130 297 speed up recovery and reduce long-term impacts on the economy.
March 2021 28 What sets us apart Risk Knowledge Our differentiators allows us to develop better products with and for our clients.
Capital Strength provides us with great financial flexibility and enables us to seize opportunities quickly.
Client Franchise built through unique relationships and long-term partnerships.
March 2021 30 Mitigating climate risk We mitigate the risk of natural catastrophes with innovative solutions that allow people and businesses to withstand more frequent Risk knowledge and severe climate impacts. focus areas Driving digital insurance solutions Big data/data analytics, the digital consumer and the increasing digitisation of insurance all play a role in seizing on opportunities and providing new digital insurance solutions to consumers around the world.
Building societal resilience Our work in the areas of health and longevity, food security and infrastructure are some of the ways we help build societal resilience.
March 2021 31 Our 2030 Our sustainability principles Our ambitions
Mitigating Embed sustainable climate risk and sustainability in advancing the all our business approach energy transition activities
We insure, invest, operate and share our Lead Building knowledge in a way that sustainability- societal tackles sustainability linked solutions resilience challenges and creates and embrace long-term value opportunities
Quantify Driving affordable sustainability insurance with performance and digital solutions impact
March 2021 32 Our Sustainability Journey
Adopted FSB TCFD Obtain 100% Net-zero recommendations Signing of Signing of Reduced providing of power GHG emissions re/insurance from renewable Reduced investing in thermal in operations coal companies to thermal coal sources
2003 2009 2015 2017 2019 2023 2050
1979 2007/08 2012 2016 2018 2020 2030 Stop providing 100% GHG Shift of Formal Commitment to Commitments re/insurance neutral investment Net-zero Sustainable to UN portfolio to most carbon- GHG emissions Business Climate to follow ESG intensive Risk Framework Action Summit across entire investment oil & gas developed benchmarks production business
March 2021 33 Our progress towards net-zero emissions
Business areas Commitments Initiative examples
✓ Exclude support to thermal coal and most carbon intensive Re/insurance UN Business Ambition for 1.5°C pledge oil & gas companies1
✓ Achieved a 50% average carbon intensity reduction in investment portfolio2
Asset Management Net-zero Asset Owner Alliance ✓ Developing 16% to 29% CO2 reduction targets by 2025 on Public Equity and Corporate Debt
✓ 100% powered by renewable energy and 30% CO2 3 Operations Net-zero reduction target for air travel for 2021 operations ✓ Internal carbon levy to increase to USD 100/tonne as of 2021, and to USD 200/tonne by 2030
2030 2050
1 Swiss Re will exclude business support to companies producing the world’s 5% and 10% most carbon intensive oil and gas from July 2021and July 2023, respectively 2 50% average carbon intensity reduction across credits and listed equities as at FY 2019 vs. FY 2015 3 100% renewable power used for Swiss Re’s own operations since September 2019; CO reduction target relative to air travel levels as at FY 2018 2 March 2021 34 Swiss Re Institute Delivering powerful insights on current and future issues affecting the re/insurance industry and the world at large. Swiss Re Swiss Re Institute harnesses Swiss Re's risk knowledge to produce data driven research across the company and with Institute partner organisations. We foster knowledge sharing and support decision making with our industry focused publications, client programmes and conferences. Our research publications enable risk- focused decision-making and identify strategic opportunities in the re/insurance industry.
*Selected knowledge publications
March 2021 36 Project examples ✓ Insurance markets and cycle analysis
✓ Macroeconomic R&D Research & ✓ Nat Cat pricing tools Development ✓ Risk engineering services ✓ Advance Nat Cat risk view ✓ Magnum G0 ✓ Life Guide ✓ Analytics for contract wording ✓ Group data integration
✓ International Program 450 13 80 Administration Platform
March 2021 37 Swiss Re Foundation Building societies that are able to withstand and recover from health, environmental and economic shocks.
Together with our partners and Swiss Swiss Re Re employees we support efforts to strengthen societal resilience in countries where we operate and Foundation selected developing regions. We focus on three areas:
Natural hazard & climate risk management
Innovation for societal resilience
Access to health & income opportunities
March 2021 39 Thank you!
Visit us: www.swissre.com
Follow us: March 2021 41 Legal notice
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The information and opinions contained in the presentation are provided as at the date of the presentation and may change. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for its accuracy or comprehensiveness or its updating. All liability for the accuracy and completeness of the information or for any damage or loss resulting from its use is expressly excluded.
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