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Daily Insurance Industry News
Tuesday 23rd of January 2018
February 24, 2012

Swiss Re reports strong 2011 profits

by Richard Kilner

Story link: Swiss Re reports strong 2011 profits

Swiss Re has reported its financial results for 2011, including net income of US$2.6bn, equating to earnings per share of US$7.68.

This is approximately thrice the result the firm achieved in 2010, when it made net income of US$863m, or US$2.52 per share.

Return on equity rose from 3.6% to 9.6%, and the firm has recently enjoyed ratings upgrades from Standard & Poor’s and A.M. Best.

Group Chief Executive Officer Michel M. Liès described 2011 as a successful year for the firm, and said that Swiss Re was well-placed for 2012.

He went on to say that despite a challenging environment the firm had made good progress on its strategic priorities.

The strong annual results are the first to be welcomed by new CEO Michel M. Liès after he assumed the role on 1 February, succeeding Stefan Lippe.

 

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