Q1 2023 Swiss Re AG Earnings Call Transcript
Good morning or good afternoon. Welcome to Swiss Re's First Quarter 2023 Results 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 very much, and good morning or good afternoon to everyone on the call for me. I'm here with Thomas Bohun, our Head of Investor Relations, to talk you through the first quarter 2023 results. Before we go to Q&A, allow me to make a few quick remarks on the release we put out this morning.
The first quarter represents a solid start into the year for Swiss Re with a net income of $643 million. Our objective is to make more than $3 billion this year. We believe we are on track, and there are a few key drivers for this. First, in P&C Re, we earn the majority of our nat cat premiums in the second half of the year when the Atlantic and Pacific storm seasons occur. Assuming normal experience, this is expected to benefit the combined ratio. We are
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