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Swiss Reinsurance Company Ltd reported very strong results in 2023 under US GAAP and in 9M24 under IFRS 17 with substantial improvements in all business lines. The strongly diversified earnings benefited from the earn-through of rate increases, better terms and conditions and lower-than-budgeted large losses in P&C, normalisation of mortality losses in life and higher return on investments. 2017-2022 was negatively affected by large loss events, inflationary pressures and low investment income.