Swiss Re Investor Presentation — April 2018

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Zurich, 4 April 2018

Investors' Day | Zurich, 4 April 2018Time Content Management

09:30 -10:00 Registration

10:00 -10:40 Update on Group strategy Christian Mumenthaler

10:40 -1 1:00 Underwriting priorities Edi Schmid

1 1:00 -1 1:20 Financial strength and capital generation John Dacey

1 1:20 -12:05 Q&A session

13:15 -13:45 Reinsurance update and Q&A Moses Ojeisekhoba

13:45 -14:15 Corporate Solutions update and Q&A Agostino Galvagni

14:15 -14:45 Life Capital update and Q&A Thierry Léger

14:45 -14:50 Wrap -up Christian MumenthalerAgenda –Investors ’ Day 2018

2Update on Group strategy

Christian Mumenthaler, Group Chief Executive OfficerInvestors' Day | Zurich, 4 April 2018 4Based on three differentiation drivers we have built leading insurance businesses…

reinsurer•Top 2 global

reinsurerCorporate Solutions

•Top 5 -10 in Excess Layer market

•Growing in Primary Lead segmentLife Capital

•Leading UK life & pension

•Leading L&H B2B2C platforms in

core marketsP&C Reinsurance L&H Reinsurance

•#1 global reinsurer in H igh Growth MarketsInvestors' Day | Zurich, 4 April 2018 5…that represent a highly rewarding combination for shareholders

The strong value creation of our individual businesses… …has consistently produced peer -leading margins

Total contribution to Economic Net Worth (USD bn) US GAAP net operating margins average 2012 -17

Reinsurance market Swiss Re Group ¹

¹ Based on weighted average of Munich Re, Hannover Re, SCOR and RGAP&C Reinsurance L&H Reinsurance Corporate Solutions

Life Capital Group Items Ordinary dividendsUnderwriting Investment Operating expensesInvestors' Day | Zurich, 4 April 2018…to benefit P&C Reinsurance and Corporate SolutionsCurrent market environment improved