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E III Swiss Re News release Swiss Re reports first - quarter net income of USD 333 million , driven by strong underlying performance of all businesses ● ● Excluding COVID - 19 claims and reserves , Group net income of USD 843 million and return on equity ( ROE ) of 12.9 % Property and Casualty Reinsurance ( P & C Re ) net income of USD 477 million ; ROE of 21.6 % Successful April 2021 P & C Re renewals , with growth at attractive margins Life and Health Reinsurance ( L & H Re ) net loss of USD 184 million ; excluding COVID - 19 losses , net income of USD 270 million and ROE of 16.8 % Corporate Solutions net income of USD 96 million ; ROE of 16.2 % Strong return on investments ( ROI ) of 3.5 % Zurich , 30 April 2021 - Swiss Re reported a Group net income of USD 333 million in the first quarter of 2021 , as the strong underlying performance of all businesses more than offset losses related to COVID 19 ( USD 643 million ) and large natural catastrophes ( USD 426 million ) . Excluding COVID - 19 - related claims and reserves , Swiss Re's net income was USD 843 million . Swiss Re's Group Chief Executive Officer Christian Mumenthaler said : " The start of 2021 has seen record numbers of COVID - 19 - related deaths in many countries , and our thoughts go out to those who have lost a loved one . The devastating human toll of the pandemic is also reflected in the financial results of Swiss Re as the world's largest life and health reinsurer . As we continue to support our clients and communities affected by the pandemic , the underlying performance of all our businesses remains very strong and underpins our confidence . " Swiss Re's Group Chief Financial Officer John Dacey said : " The return to profitability this quarter in our property and casualty businesses underlines the earnings potential of our diversified business model . We effectively absorbed the heightened mortality impact on our life and health business and maintained a very strong capital position . " Swiss Re achieved a strong ROI of 3.5 % in the first quarter of 2021. The investment result was driven largely by recurring income supplemented by gains from equity valuations . The result reflected an effective balance of active management and preservation of sustainable income . Media Relations , Zurich Telephone +41 43 285 7171 New York Telephone +1 914 828 6511 Singapore Telephone +65 6232 3302 Investor Relations , Zurich Telephone +41 43 285 4444 Swiss Re Ltd Mythenquai 50/60 CH - 8022 Zurich Telephone +41 43 285 2121 www.swissre.com @SwissRe 1/7