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Swiss Re

LSE:0QL6
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0QL6
LSE
CHF31B
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

Swiss Re Ltd, together with its subsidiaries, provides wholesale reinsurance, insurance, and other insurance-based forms of risk transfer worldwide. The last earnings update was 36 days ago. More info.


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0QL6 Share Price and Events
7 Day Returns
2.3%
LSE:0QL6
4.5%
GB Insurance
1%
GB Market
1 Year Returns
4.7%
LSE:0QL6
-4.1%
GB Insurance
1.6%
GB Market
0QL6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Swiss Re (0QL6) 2.3% 2.2% 7.2% 4.7% 8.5% 34%
GB Insurance 4.5% 3.4% 13% -4.1% 14.6% 24.5%
GB Market 1% 2.3% 8.6% 1.6% 14% 5.9%
1 Year Return vs Industry and Market
  • 0QL6 outperformed the Insurance industry which returned -4.1% over the past year.
  • 0QL6 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.6% over the past year.
Price Volatility
0QL6
Industry
5yr Volatility vs Market

Value

 Is Swiss Re undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Swiss Re to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Swiss Re.

LSE:0QL6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 15 analysts.
= Stable Book Value * Return on Equity
= $98.87 * 9.9%
$9.78
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. $98.87
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0QL6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 18%) (36.39%))
0.961
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.961 * 5.96%)
6.96%

Discounted Cash Flow Calculation for LSE:0QL6 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Swiss Re is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0QL6 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.9% – 6.96%) * $98.87)
$2.90
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.90 / (6.96% - 1.23%)
$50.69
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $98.87 + $50.69
$149.56
LSE:0QL6 Discount to Share Price
Calculation Result
Exchange Rate USD/CHF
(Reporting currency to currency of SWX:SREN)
1.014
Value per Share
(CHF)
= Value per Share in USD x Exchange Rate (USD/CHF)
= $149.56 x 1.014
CHF151.65
Non-primary Listing Adjustment Factor 1 share in LSE:0QL6 represents 0.9895x of SWX:SREN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9895x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 151.65 x 0.9895
CHF150.06
Value per share (CHF) From above. CHF150.06
Current discount Discount to share price of CHF101.77
= -1 x (CHF101.77 - CHF150.06) / CHF150.06
32.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Swiss Re is available for.
Intrinsic value
32%
Share price is CHF101.77 vs Future cash flow value of CHF150.06
Current Discount Checks
For Swiss Re to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Swiss Re's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Swiss Re's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Swiss Re's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Swiss Re's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0QL6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.37
SWX:SREN Share Price ** SWX (2019-04-18) in CHF CHF102.85
SWX:SREN Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 0.986 $101.43
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 16x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 795 Publicly-Listed Companies 16.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Swiss Re.

LSE:0QL6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:SREN Share Price ÷ EPS (both in USD)

= 101.43 ÷ 1.37

73.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swiss Re is overvalued based on earnings compared to the GB Insurance industry average.
  • Swiss Re is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Swiss Re's expected growth come at a high price?
Raw Data
LSE:0QL6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 73.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
25.7%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 16 Publicly-Listed Insurance Companies 1.58x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:0QL6 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 73.93x ÷ 25.7%

2.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swiss Re is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Swiss Re's assets?
Raw Data
LSE:0QL6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $93.09
SWX:SREN Share Price * SWX (2019-04-18) in CHF CHF102.85
SWX:SREN Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 0.986 $101.43
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.14x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.52x
LSE:0QL6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:SREN Share Price ÷ Book Value per Share (both in USD)

= 101.43 ÷ 93.09

1.09x

* Primary Listing of Swiss Re.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Swiss Re is good value based on assets compared to the GB Insurance industry average.
X
Value checks
We assess Swiss Re's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Swiss Re has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Swiss Re expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
25.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Swiss Re expected to grow at an attractive rate?
  • Swiss Re's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Swiss Re's earnings growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
  • Swiss Re's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0QL6 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0QL6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 25.7%
LSE:0QL6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 1%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 11.7%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11.1%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0QL6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0QL6 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,450
2022-12-31 3,355
2021-12-31 38,097 2,894 6
2020-12-31 37,012 2,834 10
2019-12-31 35,792 2,666 10
LSE:0QL6 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 37,062 1,572 421
2018-09-30 39,191 1,064 274
2018-06-30 41,319 556 126
2018-03-31 41,908 930 229
2017-12-31 42,496 1,303 331
2017-09-30 41,610 2,239 1,288
2017-06-30 42,730 3,379 2,903
2017-03-31 43,924 3,951 2,935
2016-12-31 43,807 6,115 3,558
2016-09-30 43,287 7,005 3,979
2016-06-30 38,932 8,030 4,203
2016-03-31 35,256 7,440 4,386

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Swiss Re's earnings are expected to grow significantly at over 20% yearly.
  • Swiss Re's revenue is expected to grow by 1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0QL6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Swiss Re Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QL6 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 12.30 12.30 12.30 1.00
2022-12-31 11.75 11.75 11.75 1.00
2021-12-31 10.25 11.79 8.16 13.00
2020-12-31 9.67 10.82 7.84 16.00
2019-12-31 8.90 10.01 7.53 17.00
LSE:0QL6 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.37
2018-09-30 0.88
2018-06-30 0.40
2018-03-31 0.72
2017-12-31 1.03
2017-09-30 3.98
2017-06-30 8.90
2017-03-31 8.93
2016-12-31 10.72
2016-09-30 11.89
2016-06-30 12.46
2016-03-31 12.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Swiss Re is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Swiss Re's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Swiss Re has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Swiss Re performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Swiss Re's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Swiss Re's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Swiss Re's 1-year earnings growth exceeds its 5-year average (27.2% vs -31.8%)
  • Swiss Re's earnings growth has exceeded the GB Insurance industry average in the past year (27.2% vs 5.3%).
Earnings and Revenue History
Swiss Re's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Swiss Re Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QL6 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 37,062.00 421.00 3,432.00
2018-09-30 39,190.50 273.50 3,407.50
2018-06-30 41,319.00 126.00 3,383.00
2018-03-31 41,907.50 228.50 3,345.50
2017-12-31 42,496.00 331.00 3,308.00
2017-09-30 41,609.50 1,288.00 3,413.00
2017-06-30 42,730.00 2,903.00 3,387.00
2017-03-31 43,923.50 2,934.50 3,388.00
2016-12-31 43,807.00 3,558.00 3,358.00
2016-09-30 43,287.00 3,979.00 3,297.00
2016-06-30 38,932.00 4,203.00 3,195.00
2016-03-31 35,256.00 4,386.00 -25.00
2015-12-31 35,736.00 4,597.00 3,248.00
2015-09-30 35,366.00 3,904.00 2,325.00
2015-06-30 37,124.00 3,732.00 1,574.00
2015-03-31 38,891.00 3,714.00 770.00
2014-12-31 37,382.00 3,500.00
2014-09-30 37,965.00 4,461.00
2014-06-30 37,478.00 4,306.00
2014-03-31 35,809.00 4,290.00
2013-12-31 36,925.00 4,444.00
2013-09-30 35,197.00 4,033.00
2013-06-30 35,839.00 5,137.00
2013-03-31 34,750.00 4,308.00
2012-12-31 33,651.00 4,069.00
2012-09-30 33,793.00 4,257.00
2012-06-30 29,650.00 3,429.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Swiss Re has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Swiss Re used its assets less efficiently than the GB Insurance industry average last year based on Return on Assets.
  • Swiss Re's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Swiss Re's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Swiss Re has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Swiss Re's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Swiss Re's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Swiss Re's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Swiss Re's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Swiss Re's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Swiss Re Company Filings, last reported 3 months ago.

LSE:0QL6 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 28,727.00 11,076.00 16,937.00
2018-09-30 28,727.00 11,076.00 16,937.00
2018-06-30 31,654.00 12,473.00 20,045.00
2018-03-31 31,654.00 12,473.00 20,045.00
2017-12-31 34,294.00 11,570.00 48,749.00
2017-09-30 34,294.00 11,570.00 48,749.00
2017-06-30 35,533.00 12,228.00 47,187.00
2017-03-31 35,533.00 12,228.00 47,187.00
2016-12-31 35,716.00 12,361.00 47,635.00
2016-09-30 38,621.00 13,726.00 51,210.00
2016-06-30 37,002.00 13,956.00 49,501.00
2016-03-31 36,019.00 15,750.00 53,588.00
2015-12-31 33,606.00 14,598.00 43,405.00
2015-09-30 33,819.00 14,958.00 41,755.00
2015-06-30 33,410.00 15,891.00 40,035.00
2015-03-31 37,784.00 16,433.00 45,342.00
2014-12-31 36,041.00 16,267.00 46,301.00
2014-09-30 34,747.00 22,000.00 47,559.00
2014-06-30 33,655.00 22,558.00 56,574.00
2014-03-31 35,047.00 22,484.00 56,187.00
2013-12-31 32,977.00 20,531.00 54,926.00
2013-09-30 31,945.00 25,686.00 50,786.00
2013-06-30 30,135.00 26,206.00 49,585.00
2013-03-31 34,788.00 24,315.00 51,138.00
2012-12-31 34,026.00 22,510.00 56,969.00
2012-09-30 33,568.00 31,802.00 52,801.00
2012-06-30 32,986.00 26,924.00 57,806.00
  • Swiss Re's level of debt (38.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (62.3% vs 38.6% today).
  • Debt is not well covered by operating cash flow (14.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Swiss Re's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Swiss Re has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Swiss Re's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.44%
Current annual income from Swiss Re dividends. Estimated to be 5.9% next year.
If you bought CHF2,000 of Swiss Re shares you are expected to receive CHF109 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Swiss Re's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • Swiss Re's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.12%).
Upcoming dividend payment

Purchase Swiss Re before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0QL6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0QL6 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 6.19 1.00
2022-12-31 6.19 1.00
2021-12-31 6.31 14.00
2020-12-31 5.99 19.00
2019-12-31 5.71 19.00
LSE:0QL6 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-13 5.523 5.654
2019-02-21 5.539 5.697
2018-03-15 4.958 5.509
2018-02-23 5.264 5.194
2017-03-16 4.807 5.380
2017-02-23 4.779 5.374
2016-03-16 4.459 5.196
2016-02-23 4.604 5.146
2015-03-18 7.035 8.164
2015-02-19 7.200 8.159
2014-03-17 7.854 10.159
2014-02-20 8.964 9.770
2013-04-11 3.574 4.654
2012-08-09 3.070 4.451
2012-03-15 3.018 5.209
2012-02-23 3.219 5.470
2011-03-23 2.875 5.864
2011-02-17 2.943 5.059
2010-02-18 0.861 2.072
2009-04-20 0.085 0.239

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Swiss Re's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Swiss Re's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Swiss Re afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Swiss Re has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Swiss Re's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Christian Mumenthaler
COMPENSATION $5,814,000
AGE 49
TENURE AS CEO 2.8 years
CEO Bio

Mr. Christian Mumenthaler has been Group Chief Executive Officer of Swiss Re Ltd. since July 1, 2016 and served as its Chief Executive Officer of Reinsurance since October 21, 2011 until July 1, 2016. Mr. Mumenthaler served as the Chief Marketing Officer of Swiss Re Ltd., from January 1, 2011 to October 2011. He served as the Head of Life & Health Products Division at Swiss Re Ltd., since October 26, 2007 and Member of Group Management Board from 2007 to 2010. He served as Chief Risk Officer and Head of Risk & Knowledge Division/Head of Risk Management at Swiss Re Ltd., from January 1, 2005 to October 26, 2007. Mr. Mumenthaler started his professional career in 1997 as an Associate at Boston Consulting Group. He joined Swiss Re in 1999 as a Manager in Group Strategic Planning. From 1999 to 2002, he was responsible for a number of key projects including innovative securitisation solutions. In 2002, he established a new unit, Group Retro and Syndication of Swiss Re and served as its Head and was responsible for a number of innovative capital market transactions including the first securitisation of mortality risk. He is a Member of the Foundation Board of the International Risk Governance Council (IRGC) and of the Board of Directors of The Sustainability Forum Zürich (TSF). Mr. Mumenthaler has a Ph.D. from the Institute of Molecular Biology and Biophysics at the Swiss Federal Institute of Technology (ETH) in Zurich.

CEO Compensation
  • Christian's compensation has been consistent with company performance over the past year.
  • Christian's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Swiss Re management team in years:

5.8
Average Tenure
55
Average Age
  • The average tenure for the Swiss Re management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Christian Mumenthaler

TITLE
Group Chief Executive Officer
COMPENSATION
$6M
AGE
49
TENURE
2.8 yrs

John Dacey

TITLE
Group Chief Financial Officer
AGE
58
TENURE
1 yrs

Thomas Wellauer

TITLE
Group Chief Operating Officer
AGE
63
TENURE
9.3 yrs

Guido Fürer

TITLE
Group Chief Investment Officer
AGE
55
TENURE
6.4 yrs

Philippe Brahin

TITLE
Head Investor Relations and Head Governmental Affairs & Sustainability

Hermann Geiger

TITLE
Group Chief Legal Officer
AGE
55
TENURE
10.3 yrs

Nigel Fretwell

TITLE
Chief Human Resources Officer
AGE
56
TENURE
5.9 yrs

Beat Strebel

TITLE
Head of the Middle East & Africa business
TENURE
0.1 yrs

Robert Solitro

TITLE
Head of Special Lines North America

Jonathan Isherwood

TITLE
Head Globals - Reinsurance
AGE
52
TENURE
5.8 yrs
Board of Directors Tenure

Average tenure and age of the Swiss Re board of directors in years:

4
Average Tenure
62
Average Age
  • The tenure for the Swiss Re board of directors is about average.
Board of Directors

Walter Kielholz

TITLE
Non-Executive Chairman
COMPENSATION
$4M
AGE
67
TENURE
9.9 yrs

Renato Fassbind

TITLE
Vice Chairman & Lead Independent Director
COMPENSATION
$826K
AGE
63
TENURE
7 yrs

Sue Wagner

TITLE
Non-Executive
COMPENSATION
$575K
AGE
57
TENURE
5 yrs

Philip Ryan

TITLE
Non-Executive
COMPENSATION
$894K
AGE
62
TENURE
4 yrs

Jacques de Vaucleroy

TITLE
Non-Executive Independent Director
COMPENSATION
$633K
AGE
57
TENURE
2 yrs

Raymond Ch'ien

TITLE
Non-Executive
COMPENSATION
$439K
AGE
66
TENURE
11.3 yrs

Trevor Manuel

TITLE
Non-Executive
COMPENSATION
$351K
AGE
62
TENURE
4 yrs

Paul Tucker

TITLE
Non-Executive
COMPENSATION
$325K
AGE
60
TENURE
3 yrs

Jay Ralph

TITLE
Non-Executive
COMPENSATION
$276K
AGE
59
TENURE
2 yrs

Joerg Reinhardt

TITLE
Independent Director
COMPENSATION
$276K
AGE
62
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Swiss Re's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Swiss Re has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Swiss Re Ltd, together with its subsidiaries, provides wholesale reinsurance, insurance, and other insurance-based forms of risk transfer worldwide. The company operates through four segments: Property & Casualty Reinsurance, Life & Health Reinsurance, Corporate Solutions, and Life Capital. It underwrites property reinsurance, including credit and surety, engineering, aviation, marine, agriculture, and retakaful; casualty reinsurance, such as liability, motor, worker's compensation, personal accident, management and professional liability, cyber, footer, and share price, as well as life and health insurance products. The company also offers standard insurance covers and customized products; and manages closed and open life and health insurance books. It serves stock and mutual insurance companies, public sector clients and governmental entities, mid-sized and large multinational corporations, and individuals. Swiss Re Ltd was founded in 1863 and is headquartered in Zurich, Switzerland.

Details
Name: Swiss Re Ltd
0QL6
Exchange: LSE
Founded: 1863
CHF30,859,539,901
300,044,141
Website: http://www.swissre.com
Address: Swiss Re Ltd
Mythenquai 50/60,
Zurich,
Zurich, 8022,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX SREN New Common Stock SIX Swiss Exchange CH CHF 02. Dec 1993
OTCPK SSRE.F New Common Stock Pink Sheets LLC US USD 02. Dec 1993
DB SR9 New Common Stock Deutsche Boerse AG DE EUR 02. Dec 1993
XTRA SR9 New Common Stock XETRA Trading Platform DE EUR 02. Dec 1993
LSE 0QL6 New Common Stock London Stock Exchange GB CHF 02. Dec 1993
BMV SREN N New Common Stock Bolsa Mexicana de Valores MX MXN 02. Dec 1993
BATS-CHIXE SRENZ New Common Stock BATS 'Chi-X Europe' GB CHF 02. Dec 1993
OTCPK SSRE.Y SPON ADR EACH REPR 1 ORD SHS Pink Sheets LLC US USD 27. May 2011
DB SR9A SPON ADR EACH REPR 1 ORD SHS Deutsche Boerse AG DE EUR 27. May 2011
SWX SRENE CHF0.10 (2ND BUY BACK LINE) SIX Swiss Exchange CH CHF 11. Nov 2015
Number of employees
Current staff
Staff numbers
14,943
Swiss Re employees.
Industry
Reinsurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:05
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/03/13
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.