Q3 2023 Swiss Re AG Earnings Call Transcript
Good morning or good afternoon. Welcome to the Swiss Re's 9th Month 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. And good morning or good afternoon to everyone on the call. I'm here with Thomas Bohun, our Head of Investor Relations, to talk you through the 9 months 2023 results. Before we go to Q&A, allow me to make a few quick remarks on the release that we put out this morning.
We're reporting solid results today for the first 9 months with a profit of $2.5 billion. We're on track to achieve the full-year target of more than $3 billion of net income. All businesses contributed to a strong third quarter.
P&C Re's third quarter combined ratio of 93.7% absorbed $421 million of large nat cat losses related to various events in a busy nat cat quarter for the industry. We added significant amounts of assumption driven reserves, therefore in the
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