UBS has raised its rating for Swiss Re from "Sell" to "Buy" and increased its price target from 106 to 136 Swiss francs.

This change is based on the analyst's belief that the risk discount associated with Swiss Re's previous performance has been eliminated, particularly after a significant provision in the United States.

The analyst is now more confident in Swiss Re's prospects and expects share buybacks in the future. The analyst's revised earnings estimates for 2025/26 are approximately ten percent higher than the consensus, indicating a more positive outlook for Swiss Re's financial performance going forward.