Q1 2021 Swiss Re AG Earnings Call Transcript
Good morning or good afternoon. Welcome to Swiss Re's First Quarter 2021 Conference Call. Please note that today's conference call is being recorded. At this time, I would like to turn the conference over to John Dacey, Group CFO. Please go ahead.
Thank you, and good morning or good afternoon to everyone on the line. I'm here today with Thierry Leger, our Chief Underwriting Officer; and Thomas Bohun, our Head of Investor Relations.
As usual, I'll start with a brief overview of the key figures we published this morning.
Swiss Re had a strong start to 2021 with the first quarter net income of $333 million. This resilient result has to be seen in the context of a quarter that sadly witnessed the highest pandemic death toll to date in our 2 largest Life & Health markets, the United States and the U.K. Excluding COVID-related losses, the group achieved a net income of $843 million.
P&C Reinsurance reported a net income of $477 million, benefiting from significantly -- benefiting
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