Swiss Re posts 47% rise in 2025 net profit, but life and health weighs

FRANKFURT, Feb 27 (Reuters) - Reinsurance company Swiss Re said on Friday its 2025 net profit rose 47%, slightly better than expected, and helped by strength in its property and casualty business.

The rise came despite a 17% decline in profit at its health and life division, that led it to miss a target for the business.

Group net profit of $4.762 billion in the period compares with a profit of $3.238 billion a year earlier. Analysts had expected a profit of $4.724 billion, according to a consensus forecast.

Swiss Re warned last year that it would miss the full-year profit target in its life and health division after higher-than-expected claims.

The reinsurer, among the world's largest, had said smaller health portfolios in Australia and elsewhere were underperforming its expectations.

In October, Swiss Re said it would pause new life and health business in Australia following a sharp rise in claims there after local insurers paid out more in mental health claims and younger people were put on permanent disability.

Profit in the division was $1.274 billion for 2025, down from $1.532 billion in 2024 and short of a target of about $1.6 billion.

(Reporting by Tom Sims and Oliver Hirt, Editing by Friederike Heine and Clarence Fernandez)