Swiss Re Investor Presentation — February 2020

Document content

Swiss Re investor and analyst presentation

Zurich, 20 February 2020

context Focus areas of Annual Results 2019

actionsLeadership in

bubbleRecord levels of natcat

losses and adverse US

casualty trendsGlobal

2018 2008 1999 1995 1996 1997 2001 2000 2012 2002 2003 2004 2005 2006 2007 2009 2010 2015 2011 2013 2014 2016 2017 2019 2020 1998Swiss Re has weathered multiple cycles in its recent history

1Swiss Re CAMARES property catastrophe index , extended from 2017 to2020 bytheGuy Carpenter Cat XL RoL index ; rebased at 100 in 1995

Source: Swiss Re InstituteSwiss Re Group net income (LHS) Worldwide Cat Market Price Index1 (RHS)

Current industry environment displaying ‘end of soft cycle’ market characteristicsUSD mAnnual Results 2019

L&H Reinsurance P&C Reinsurance Corporate

Group items Life Capital-34.1%4.8%ROE FY 2019

Average shareholders’ equity FY 2019Breakdown of capital allocation and 2019 performance

Reinsurance ROE of 8.0%•Majority of capital allocated

to Reinsurance, meeting cost

of capital in a challenging

management actions to

restore Corporate Solutions

•Strategic milestone achieved

in Life Capital, expecting to

reduce the impact on Group

ROE Annual Results 2019

5201 9 reported Group net income

Proactive measures to address

ongoing US casualty market

trendsCorporate Solutions

Decisive management actions

and pronounced increase in

US casualty claimsMain elements driving the Group’s 2019 results

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