Swiss Re Investor Presentation — August 2024

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Half-year 2024 Results

Swiss Re investor and analyst presentation

Zurich, 22 August 2024Half-year 2024 Results

ReinsuranceCombined ratio1

GroupNet income (USD)Strong H1 2024 results, focus on achieving full -year financial targets

1Insurance service expense (net) / insurance revenue (net)

2(Insurance service expense (gross) + reinsurance result + non -directly attributable expenses) / insurance revenue (gross)Net income

investmentsH1 23 H1 2417882088

ReinsuranceNet income (USD) 471m ~1.5bn 883m

2 088m 2.7%Corporate

SolutionsCombined ratio287.6% <93% 88.7%

equity18.0% 20.1% 20.2%Half-year 2024 Results

Disciplined underwriting and strong investment income across the Group

3H1 2024 H1 2023 H1 20242.2

1Including other income/expenses

2USD -111m (pre -tax) related to impairment of goodwill and other intangible assets, impacting ‘ Financing costs, taxes & other’•H1 2024 result supported by all Business Units,

reflecting sustained underwriting discipline, healthy

margins in both P&C businesses, and a strong

investment return, partially offset by negative one -off

impacts2related to withdrawal from iptiQ

•Swiss Re maintains its full -year net income target of

USD >3.6bn•New business CSM driven by seasonality of P&C Re

renewals, supported by pricing and interest rate levels

•Robust new business generation from L&H Re, driven

•Corporate Solutions impacted by seasonality of

reinsurance programme , which largely incepted in Q1,

while new business incepts throughout the year•Insurance revenue in both P&C businesses supported

by nominal price increases. Disciplined growth across