Financial Analysis - Swiss Re AG - Swiss Re AG offers reinsurance, insurance and insurance linked...

21.02.2013

Ticker: Swiss Re AG Benchmark:

Currency: SIX Swiss Ex: SREN, Currency: CHF SWISS MARKET INDEX (SMI)

Sector: Financials Industry: Insurance Year:

Telephone 41-43-285-2121 Revenue (M) Business Segments in CHF Sales (M) Geographic Segments in CHF Sales (M)

Website www.swissre.com No of Employees Property & Casualty - Reinsurance 1 Unallocated Sales 1

Address Mythenquai 50/60 Zurich Switzerland Life & Health - Reinsurance

Share Price Performance in CHF Financial Markets/Allocation

Price 75.60 1M Return 9.3% Admin Re

52 Week High 76.60 6M Return 23.2% Legacy

52 Week Low 50.33 52 Wk Return 46.5% Group Items

52 Wk Beta 1.03 YTD Return 14.7%

Credit Ratings

Bloomberg IG9

S&P - Date - Outlook -

Moody's - Date - Outlook -

Fitch - Date - Outlook -

Valuation Ratios

12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

P/E 33.4x 21.3x 6.6x 6.1x 10.0x 9.7x 9.3x

EV/EBIT - - - - - - -

EV/EBITDA - - - - - - -

P/S 0.5x 0.6x 0.6x - 0.9x 0.9x 0.8x

P/B 0.7x 0.7x 0.6x - 0.9x 0.8x 0.8x

Div Yield 2.0% 4.9% 5.9% - 5.1% 5.2% 5.2%

Profitability Ratios %

12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Gross Margin - - - - - - -

EBITDA Margin - - - - - - -

Operating Margin 5.5 12.0 12.4 - 12.8 12.1 11.6

Profit Margin 1.5 3.0 9.4 - 9.0 8.6 8.1

Return on Assets 0.2 0.4 1.2 - 3.3 3.3 1.2

Return on Equity 2.2 3.4 9.6 13.2 8.4 8.9 9.0

Leverage and Coverage Ratios

12/09 12/10 12/11 12/12

Current Ratio - - - - Current Capitalization in CHF

Quick Ratio - - - - Common Shares Outstanding (M) 342.7

EBIT/Interest - - - - Market Capitalization (M) 28025.4

Tot Debt/Capital 0.5 0.5 0.4 - Cash and ST Investments (M) 12163.1

Tot Debt/Equity 1.1 1.1 0.7 - Total Debt (M) 18070.0

Eff Tax Rate % 31.3 34.7 2.7 - Preferred Equity (M) 0.0

LT Investments in Affiliate Companies (M) 0.0

Investments (M) 22.5

Enterprise Value (M) 33954.9

11'071

Swiss Re AG offers reinsurance, insurance and insurance linked financial market

products. The Company offers automobile, liability, accident, engineering, marine,

aviation, life, and health insurance. Swiss Re also manages fixed-income and equity

investments for itself and other insurance companies.

SREN VX

24'646

Company Analysis - Overview

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Q.M.S Advisors | tel: +41 (0)78 922 08 77 | e-mail: [email protected] |

www.swissre.com

Swiss Re AG

Target price in CHF

Date Buy Hold Sell Date Price Target Price Broker Analyst Recommendation Target Date

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Company Analysis - Analysts Ratings

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21.02.2013

Swiss Re AG

Ownership Statistics Geographic Ownership Distribution

Shares Outstanding (M) 342.7 United States 54.59%

Float 99.9% Britain 20.42%

Short Interest (M) Luxembourg 10.90%

Short Interest as % of Float Switzerland 9.40%

Days to Cover Shorts Canada 0.69%

Institutional Ownership 43.20% Germany 0.68%

Retail Ownership 56.67% Ireland 0.67%

Insider Ownership 0.13% Others 2.66%

Institutional Ownership Distribution

Investment Advisor 72.24%

Unclassified 16.99%

Mutual Fund Manager 10.04%

Insurance Company 0.43%

Pricing data is in CHF Others 0.31%

Top 20 Owners:

Holder Name Position Position Change Market Value % of Ownership Report Date Source Country

SWISS RE 27'282'124 -1'396'672 2'062'528'574 7.36% 29.03.2012 EXCH BRITAIN

FRANKLIN RESOURCES 19'016'988 -465'989 1'437'684'293 5.13% 31.12.2012 ULT-AGG UNITED STATES

BLACKROCK 15'114'719 763'755 1'142'672'756 4.08% 19.02.2013 ULT-AGG UNITED STATES

VANGUARD GROUP INC 13'188'586 -222'639 997'057'102 3.56% 31.12.2012 MF-AGG UNITED STATES

DODGE & COX 12'639'368 0 955'536'221 3.41% 31.12.2011 Co File UNITED STATES

MFS INVESTMENT MANAG 11'485'890 0 868'333'284 3.10% 31.12.2011 Co File LUXEMBOURG

BERKSHIRE HATHAWAY I 11'262'000 0 851'407'200 3.04% 31.12.2011 ULT-AGG UNITED STATES

CREDIT SUISSE ASSET 5'610'148 -9'893 424'127'189 1.51% 28.12.2012 MF-AGG SWITZERLAND

MASSACHUSETTS FINANC 5'482'330 154'354 414'464'148 1.48% 31.12.2012 MF-AGG UNITED STATES

UBS FUND MANAGEMENT 2'870'923 -16'783 217'041'779 0.77% 31.10.2012 MF-AGG SWITZERLAND

PICTET & CIE 2'181'639 -8'205 164'931'908 0.59% 31.10.2012 MF-AGG SWITZERLAND

SARASIN 1'986'440 4'568 150'174'864 0.54% 28.12.2012 ULT-AGG

SWISSCANTO FONDSLEIT 1'464'844 -33'255 110'742'206 0.40% 30.11.2012 MF-AGG SWITZERLAND

TEMPLETON INVESTMENT 1'299'889 -264'683 98'271'608 0.35% 30.11.2012 MF-AGG BRITAIN

DIMENSIONAL FUND ADV 1'238'106 0 93'600'814 0.33% 30.04.2012 MF-AGG UNITED STATES

JP MORGAN 1'214'600 -801 91'823'760 0.33% 31.12.2012 ULT-AGG

HARTFORD INVESTMENT 1'102'833 -174'506 83'374'175 0.30% 31.12.2012 MF-AGG UNITED STATES

FMR LLC 833'022 -181'060 62'976'463 0.22% 31.12.2012 ULT-AGG UNITED STATES

BESSEMER GROUP INCOR 819'676 145'000 61'967'506 0.22% 31.10.2012 MF-AGG UNITED STATES

VONTOBEL ASSET MANAG 635'477 -6'100 48'042'061 0.17% 31.10.2012 MF-AGG SWITZERLAND

Top 5 Insiders:

Holder Name Position Position Change Market Value % of Ownership Report Date Source

KIELHOLZ WALTER B 185'000 13'986'000 0.05% 31.12.2011 Co File

COOMBER JOHN R 134'707 10'183'849 0.04% 31.12.2011 Co File

BAER JAKOB 34'922 2'640'103 0.01% 31.12.2011 Co File

BREU RAYMUND 31'789 2'403'248 0.01% 31.12.2011 Co File

SCOTT ROBERT AVISSON 24'096 1'821'658 0.01% 31.12.2011 Co File

Company Analysis - Ownership

Ownership Type

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Swiss Re AG

Financial information is in CHF (M)

Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Income Statement

Revenue 34'347 36'469 36'070 37'592 39'877 42'464 25'922 33'155 29'688 24'646 29'457 31'691 34'977

- Cost of Goods Sold

Gross Income

- Selling, General & Admin Expenses 3'590 3'257 3'217 3'081 4'111 4'077 3'211 3'198 2'633 2'705

(Research & Dev Costs)

Operating Income -32 2'375 3'344 2'139 5'467 6'591 1'095 1'820 3'562 3'050 3'762 3'824 4'072

- Interest Expense 0 0 0 1'814 1'501 1'311 2'304 755

- Foreign Exchange Losses (Gains)

- Net Non-Operating Losses (Gains) -68 39 -23 -420 -389 -410 944 -228 -366 -254

Pretax Income 36 2'336 3'367 2'559 5'856 5'187 -1'350 737 1'624 2'549 3'701 3'932 4'094

- Income Tax Expense 127 634 892 255 1'296 1'025 -486 231 564 68

Income Before XO Items -91 1'702 2'475 2'304 4'560 4'162 -864 506 1'060 2'481

- Extraordinary Loss Net of Tax 0 0 0 0 0

- Minority Interests 0 0 0 161 153

Diluted EPS Before XO Items 7.14 12.53 11.23 (2.61) 1.48 2.53 6.64

Net Income Adjusted* 2'328 3'939 2'637 2'723 2'841

EPS Adjusted 6.80 11.11 7.46 7.69 8.02

Dividends Per Share 1.00 1.10 1.60 2.50 3.40 4.00 0.10 1.00 2.75 2.66 3.84 3.88 3.93

Payout Ratio % 20.1 20.1 33.7 26.7 33.3 69.9 39.2 0.52 0.50 0.49

Total Shares Outstanding 321 321 321 310 358 347 336 343 343 343

Diluted Shares Outstanding 310 320 325 333 375 383 331 342 449 352

EBITDA

*Net income excludes extraordinary gains and losses and one-time charges.

Equivalent Estimates

Company Analysis - Financials I/IV

Fiscal Year


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Balance Sheet

Total Current Assets

+ Cash & Near Cash Items 3'773 5'429 6'402 8'368 13'606 11'531 17'268 28'749 15'809 10'708

+ Short Term Investments 3'356 7'339 5'514 98'340 125'213 168'389 123'201 112'563 106'136 108'619

+ Accounts & Notes Receivable 38'116 39'189 32'365 39'251 49'418 44'917 37'059 35'348 31'905 31'505

+ Inventories

+ Other Current Assets

Total Long-Term Assets

+ Long Term Investments 86'591 88'095 98'506 130'601 172'507 227'812 163'965 156'449 146'573 152'280

Gross Fixed Assets

Accumulated Depreciation 4'142 4'754 4'875 5'393 5'270 5'152 4'311 4'025 3'335 3'683

+ Net Fixed Assets

+ Other Long Term Assets 29'098 32'121 42'344 37'686 50'499 17'875 17'274 16'033 15'684 13'877

Total Current Liabilities

+ Accounts Payable

+ Short Term Borrowings 1'331 1'207 693 1'015 1'917 12'658 6'522 8'378 10'084 3'874

+ Other Short Term Liabilities 30'079 33'985 33'559 43'683 57'072 47'992 33'379 28'543 21'977 23'193

Total Long Term Liabilities

+ Long Term Borrowings 5'663 4'807 5'296 5'852 7'973 23'337 20'453 19'831 17'209 15'527

+ Other Long Term Borrowings 1'423 4'013 14'645 2'838 2'685 3'817 1'329 959 1'603 2'678

Total Liabilities 145'171 151'187 165'315 196'906 260'416 275'420 219'424 214'403 188'178 182'682

+ Long Preferred Equity 0 0 0 0

+ Minority Interest 0 0 0 1'461 1'593

+ Share Capital & APIC 6'001 5'853 5'865 6'884 11'173 11'245 10'812 11'193 9'867 8'467

+ Retained Earnings & Other Equity 10'548 12'548 13'312 17'509 19'711 20'622 9'641 15'008 13'800 19'309 31'098

Total Shareholders Equity 16'549 18'401 19'177 24'393 30'884 31'867 20'453 26'201 25'128 29'369 31'098

Total Liabilities & Equity 161'720 169'588 184'492 221'299 291'300 307'287 239'877 240'604 213'306 212'051

Book Value Per Share 51.52 57.36 59.72 78.58 86.21 91.92 60.93 76.45 69.08 81.04 86.98 90.17 97.54

Tangible Book Value Per Share 41.03 48.37 51.99 67.54 72.70 77.80 48.23 63.98 57.95 69.95

Company Analysis - Financials II/IV


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Cash Flows

Net Income -91 1'702 2'475 2'304 4'560 4'162 -864 506 899 2'328 2'672 2'763 2'808

+ Depreciation & Amortization 983 1'366 1'271 782 886 676 871 21 283 2'762

+ Other Non-Cash Adjustments 645 3 -1'615 -3'379 210 13'393 -2'321 -4'187 -6'975 -1'571

+ Changes in Non-Cash Capital -212 -1'412 2'628 2'265 -3'290 -19'977 -3'775 -4'506 -1'716 -2'192

Cash From Operating Activities 1'325 1'659 4'759 1'972 2'366 -1'746 -6'089 -8'166 -7'508 1'327

+ Disposal of Fixed Assets 0 0 0

+ Capital Expenditures 0 0 0

+ Increase in Investments -96'798 -74'620 -47'595 -48'971 -60'347 -61'542 -83'727 -180'631 -134'343 -132'045

+ Decrease in Investments 89'180 72'947 43'951 44'698 66'897 59'059 102'376 196'074 132'204 134'994

+ Other Investing Activities 1'056 -50 -1'342 643 -3'506 1'615 170 103 71

Cash From Investing Activities -6'562 -1'723 -4'986 -3'630 3'044 -868 18'819 15'546 -2'139 3'020

+ Dividends Paid -776 -310 -341 -497 -776 -1'162 -1'331 -34 -332 -918

+ Change in Short Term Borrowings 747 -1'017 -965 -599 -380 2'057 -5'354 -1'383 -4'341 -7'972

+ Increase in Long Term Borrowings 1'655 135 1'016 987 3'146 4'342 1'327 3'440 1'096

+ Decrease in Long Term Borrowings 0 0 0 -29

+ Increase in Capital Stocks 212 0 0 32 1'323 38 1 1

+ Decrease in Capital Stocks 0 -148 -119 -63 -2'303 -1'553 -231

+ Other Financing Activities -451 -92 -198 422 -2'610 -415 -83 2'077 717 -92

Cash From Financing Activities 2'964 1'720 1'200 345 640 2'557 -6'993 4'101 -2'860 -9'242

Net Changes in Cash -2'273 1'656 973 -1'313 6'050 -57 5'737 11'481 -12'506 -4'895

Free Cash Flow (CFO-CAPEX) 1'325 1'659 4'759

Free Cash Flow To Firm 1'325 1'659 4'759

Free Cash Flow To Equity 3'727 777 4'810

Free Cash Flow per Share 4.27 5.35 15.39

Company Analysis - Financials III/IV


Periodicity: 12/02 12/03 12/04 12/05 12/06 12/07 12/08 12/09 12/10 12/11 12/12 12/13E 12/14E 12/15E

Ratio Analysis

Valuation Ratios

Price Earnings 15.2x 10.2x 12.9x 7.7x 6.8x 33.4x 21.3x 6.6x 6.1x 10.1x 9.8x 9.4x

EV to EBIT

EV to EBITDA

Price to Sales 0.8x 0.7x 0.7x 0.8x 0.9x 0.7x 0.6x 0.5x 0.6x 0.6x 0.9x 0.9x 0.8x

Price to Book 1.8x 1.5x 1.4x 1.2x 1.2x 0.9x 0.8x 0.7x 0.7x 0.6x 0.9x 0.8x 0.8x

Dividend Yield 1.1% 1.3% 2.0% 2.6% 3.3% 4.9% 0.2% 2.0% 4.9% 5.9% 5.1% 5.2% 5.2%

Profitability Ratios

Gross Margin

EBITDA Margin - - -

Operating Margin -0.1% 6.5% 9.3% 5.7% 13.7% 15.5% 4.2% 5.5% 12.0% 12.4% 12.8% 12.1% 11.6%

Profit Margin -0.3% 4.7% 6.9% 6.1% 11.4% 9.8% -3.3% 1.5% 3.0% 9.4% 9.0% 8.6% 8.1%

Return on Assets -0.1% 1.0% 1.4% 1.1% 1.8% 1.4% -0.3% 0.2% 0.4% 1.2% 3.3% 3.3% 1.2%

Return on Equity -0.5% 9.7% 13.2% 10.6% 16.5% 13.3% -3.3% 2.2% 3.4% 9.6% 13.2% 8.4% 8.9% 9.0%

Leverage & Coverage Ratios

Current Ratio

Quick Ratio

Interest Coverage Ratio (EBIT/I)

Tot Debt/Capital 0.30 0.25 0.24 0.22 0.24 0.53 0.57 0.52 0.52 0.40

Tot Debt/Equity 0.42 0.33 0.31 0.28 0.32 1.13 1.32 1.08 1.09 0.66

Others

Asset Turnover 0.21 0.22 0.20 0.19 0.16 0.14 0.09 0.14 0.12 0.12

Accounts Receivable Turnover

Accounts Payable Turnover

Inventory Turnover

Effective Tax Rate 352.8% 27.1% 26.5% 10.0% 22.1% 19.8% 31.3% 34.7% 2.7%

Company Analysis - Financials IV/IV


SWISS RE AGMUENCHENER

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12/2012 12/2012 12/2011 12/2011 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2011

76.60 139.75 60.60 22.24 108.65 13.98 28.91 61.86 91.24 87.38 49.98 123.26 264.00 148.00

21.02.2013 05.02.2013 03.01.2013 07.02.2013 02.01.2013 19.02.2013 19.02.2013 01.02.2013 07.02.2013 07.02.2013 12.02.2013 20.02.2013 28.01.2013 19.02.2013

50.00 95.85 39.80 17.06 68.50 8.65 19.52 48.36 62.59 70.00 36.08 85.99 192.50 74.35

22.02.2012 04.06.2012 06.03.2012 01.06.2012 04.06.2012 04.06.2012 05.06.2012 16.11.2012 07.03.2012 01.08.2012 23.03.2012 22.02.2012 05.06.2012 01.06.2012

806'188 144'918 27'668 67'085 547'294 3'323'441 2'303'229 290'787 452'574 272'045 533'072 427'053 116'985 38'073

75.50 133.45 57.86 21.71 103.05 13.31 28.53 59.00 86.43 84.23 47.83 122.38 253.60 143.80

-1.4% -4.5% -4.5% -2.4% -5.2% -4.8% -1.3% -4.6% -5.3% -3.6% -4.3% -0.7% -3.9% -2.8%

51.0% 39.2% 45.4% 27.2% 50.4% 53.8% 46.2% 22.0% 38.1% 20.3% 32.6% 42.3% 31.7% 93.4%

342.7 177.6 120.6 184.7 452.5 2'374.0 298.7 73.9 58.9 45.5 133.8 51.4 147.0 31.9

27'988.4 23'933.1 6'977.8 4'166.9 46'985.6 31'785.6 8'522.8 4'361.7 5'229.0 4'056.2 6'401.7 6'292.5 37'608.9 4'613.3

20'668.0 5'562.0 1'934.4 1'425.0 28'411.0 16'693.0 1'672.8 2'467.3 821.0 351.8 400.0 818.2 12'521.0 2'624.0

- - - - - 6'059.0 - - 893.8 400.0 325.0 - - -

1'697.0 247.0 636.0 7.0 2'338.0 2'371.0 1'346.3 - - 972.3 - - 2'368.0 35.0

11'407.0 2'490.0 507.0 1'281.0 10'492.0 31'072.0 2'618.4 1'259.9 1'121.7 325.4 371.0 537.1 9'098.0 5'084.0

36'375.5 27'506.1 8'917.1 4'595.9 65'617.6 26'630.6 8'923.6 5'569.1 5'822.0 5'454.9 6'755.7 6'573.6 46'202.2 2'282.3

LFY 27'797.0 60'908.0 12'125.7 7'405.0 106'400.0 118'423.0 7'172.0 9'840.9 5'562.6 1'377.5 3'408.9 4'922.8 70'446.0 17'291.0

LTM 33'328.0 66'138.0 13'374.4 8'524.0 96'790.0 118'423.0 7'172.0 9'840.9 5'562.6 1'377.5 3'408.9 4'922.8 70'446.0 18'137.0

CY+1 31'900.3 57'929.3 12'952.6 9'062.4 105'751.4 99'780.0 7'554.8 10'159.0 5'595.0 1'314.3 3'589.9 4'807.6 60'452.2 17'263.0

CY+2 34'319.4 61'480.0 13'582.2 9'570.5 108'336.4 101'989.9 7'764.8 10'723.0 5'951.2 1'350.0 3'778.6 4'955.8 62'644.9 17'277.9

LFY 1.1x 0.4x 0.7x 0.6x 0.6x 0.2x 1.1x 0.5x 1.0x 3.7x 1.8x 1.2x 0.6x 0.0x

LTM 0.9x 0.4x 0.6x 0.5x 0.6x 0.2x 1.1x 0.5x 1.0x 3.7x 1.8x 1.2x 0.6x 0.0x

CY+1 1.3x 0.5x 0.7x 0.6x 0.5x 0.4x 1.3x 0.6x 1.0x 4.3x 1.9x - 0.9x 0.0x

CY+2 - - 0.7x 0.6x 0.5x - 1.2x - 0.9x 4.2x 1.8x - - 0.0x

LFY - - - - - - - - - - - - - -

LTM - - - - - - - - - - - - - -

CY+1 - - - - - - - - - - - - - -

CY+2 - - - - - - - - - - - - - -

LFY - - - - - - - - - - - - - -

LTM - - - - - - - - - - - - - -

CY+1 - - - - - - - - - - - - - -

CY+2 - - - - - - - - - - - - - -

LFY 7.49 3.94 5.02 1.77 11.42 1.81 1.98 6.96 10.57 7.93 3.07 13.62 26.48 19.21

LTM 12.22 17.99 7.42 2.71 11.42 1.71 1.97 6.96 10.55 7.84 3.06 13.58 26.46 17.66

CY+1 8.08 15.89 6.78 2.24 12.11 1.93 2.54 7.41 8.51 9.04 3.09 13.83 28.80 19.00

CY+2 8.33 16.25 6.61 2.54 12.65 2.08 2.75 8.07 8.04 9.61 3.19 15.00 30.39 18.10

LFY 6.6x 7.4x 7.8x 8.0x 9.0x 7.8x 14.5x 8.5x 8.2x 10.7x 15.6x 9.0x 10.3x 8.1x

LTM 6.7x 7.1x 7.8x 8.2x 9.0x 7.2x 14.5x 8.5x 8.2x 10.7x 15.6x 9.0x 10.3x 8.1x

CY+1 10.0x 8.4x 8.5x 9.7x 8.5x 6.9x 11.2x 8.0x 10.2x 9.3x 15.5x 8.8x 9.5x 7.6x

CY+2 9.7x 8.2x 8.7x 8.6x 8.1x 6.4x 10.4x 7.3x 10.8x 8.8x 15.0x 8.2x 9.0x 7.9x

1 Year - - 6.2% 10.1% 21.8% 20.4% 7.5% 11.5% 3.9% 21.0% 10.9% 4.9% 33.0% (3.1%)

5 Year 11.9% 9.2% 15.6% 15.2% 3.7% 61.3% 2.0% 13.9% 4.9% 11.8% 2.4% 7.3% 11.8% (1.1%)

1 Year - - - - - - - - - - - - - -

5 Year - - - - - - - - - - - - - -

LTM - - - - - - - - - - - - - -

CY+1 - - - - - - - - - - - - - -

CY+2 - - - - - - - - - - - - - -

Total Debt / Equity % 0.0% 0.0% 38.9% 32.4% 0.0% 0.0% 15.9% 35.7% 13.6% 11.3% 8.3% 12.2% 36.3% 28.7% FALSE

Total Debt / Capital % 39.8% 19.3% 25.7% 24.4% 37.5% 24.7% 12.4% 26.3% 10.6% 7.3% 7.2% 10.8% 25.4% 22.3% FALSE

Total Debt / EBITDA - - - - - - - - - - - - - - FALSE

Net Debt / EBITDA - - - - - - - - - - - - - - FALSE

EBITDA / Int. Expense - - - - - - - - - - - - - - FALSE

S&P LT Credit Rating - AA- AA- A+ AA A- NR A- A- A A- A- - BBB FALSE

S&P LT Credit Rating Date - 22.12.2006 10.06.2006 04.06.2012 27.01.2012 18.12.2012 31.12.2011 01.07.2005 17.02.2012 13.12.2007 29.07.2010 07.04.2010 - 03.05.2012 FALSE

Moody's LT Credit Rating - - - WR Aa3 A2 WR Baa1 - A3 A3 - - - FALSE

Moody's LT Credit Rating Date - - - 21.06.2007 03.05.2004 19.03.2003 31.12.2011 14.07.2005 - 02.11.2009 16.12.2011 - - - FALSE

EBITDA Growth

EBITDA Margin

Credit Ratings

Leverage/Coverage Ratios

P/E

Revenue Growth

Total Revenue

EV/Total Revenue

EPS

Cash and Equivalents

EBITDA

EV/EBITDA

Enterprise Value

Valuation

Preferred Stock

52-Week Low Date

Minority Interest

Total Common Shares (M)

Total Debt

Market Capitalization

Daily Volume

52-Week Low % Change

Current Price (2/dd/yy)

52-Week High % Change

52-Week High Date

52-Week Low

Latest Fiscal Year:

52-Week High

Company Analysis - Peers Comparision


Financial Analysis - Swiss Re AG - Swiss Re AG offers reinsurance, insurance and insurance linked...

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Transcript of Financial Analysis - Swiss Re AG - Swiss Re AG offers reinsurance, insurance and insurance linked...