High profitability combined with low volatility

Equity Story

Excellent market position and very strong capitalisation. Delivering high and sustainable profitability. Growing earnings and dividends.

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Excellent market position and very strong capitalisation

  • Leading reinsurer with worldwide presence
  • Very strong capitalisation according to Solvency II and S&P rating

Growing earnings and dividends

  • Strong track record of profitable growth
  • Dividend policy: ordinary dividend > prior year
  • Total shareholder return of 15% p.a.1 (market value growth + dividends)

Delivering high and sustainable profitability

  • Industry-leading return on equity
  • Competitive advantage: lean operating model with low cost ratio
  • Low earnings volatility supported by broad diversification, efficient retrocession and prudent reserving