Swiss Re posts 24% increase in 6-month profit, maintains targets

FRANKFURT (Reuters) -Reinsurance company Swiss Re said on Thursday that net profit for the first half of 2025 rose a better-than-expected 24%, and it maintained its targets for the full year.

The company cited low claims for large natural catastrophes in the second quarter after reporting a hit from Los Angeles wildfires for the first quarter, as well as a higher investment result.

Net profit of $2.605 billion in the period compares with a profit of $2.097 billion a year earlier.

Analysts had expected a profit of $2.472 billion, according to a consensus forecast.

Unlike some top competitors, Swiss Re reported price increases in its June contract renewals of 2.3%. By contrast, prices fell at top competitors Munich Re and Hannover Re.

(Reporting by Tom SimsEditing by Ludwig Burger)