Swiss Re L&H insurance revenue down

The revenue was down from £6.3 billion ($8.53bn) in H1 2024, to £5.93bn ($8.04bn) in the first half of this year. The reinsurer attributed this difference to a one-time external retrocession transaction, the transference of risk from one reinsurer to another, worth £290m ($400m) conducted in the first half of last year. Net income for the L&H business also fell 5%, from £650 million ($883m) in H1 2024 to £618m ($839m) in the same period this year. The reinsurer predicted that life insurance premium growth will fall globally to 1% in response to interest rate changes. Swiss Re noted...