Swiss Re's 2023 Net Profit Soars, Warns of Climate Costs

Swiss Re, the insurance giant, reported a 580% increase in full-year profit, reaching $3.2 billion, and proposed a 6% dividend increase, attributing the growth to a more favorable market environment. CEO Christian Mumenthaler expressed optimism about the company's outlook but warned that the impact of climate change would soon be felt by consumers, leading to increased risks and costs. He emphasized the need for fair pricing to reflect these heightened risks, as shares of Swiss Re dipped by 2.1%.