High profitability combined with low volatility

Equity Story

Excellent market position and very strong capitalization. Delivering high and sustainable profitability. Growing earnings and dividends.

Excellent market position and very strong capitalisation

  • Leading reinsurer with worldwide presence
  • Very strong capitalisation according to Solvency II and S&P rating

Growing earnings and dividends

  • Strong track record of profitable growth
  • Dividend policy: ordinary dividend > prior year
  • Total shareholder return of 15% p.a.1 (market value growth + dividends)

Delivering high and sustainable profitability

  • Industry-leading return on equity
  • Competitive advantage: lean operating model with low cost ratio
  • Low earnings volatility supported by broad diversification, efficient retrocession and prudent reserving