Daily Insurance Industry News
Daily Insurance Industry News
Sunday 18th of November 2018
August 6, 2010

Swiss Re reports Q2 results

by Richard Kilner

Story link: Swiss Re reports Q2 results

Swiss Re has released its financial performance results for the second quarter of 2010, including net income of US$812m.

This is more than a billion dollars better than the US$342m net loss incurred during the corresponding period in 2009, with earnings per share improving from a loss of US$1.01 to a net profit of US$2.37.

Return on equity improved by 20%, up from a loss of 7.4% to a positive figure of 13.4%.

Chief Executive Officer Stefan Lippe has stated that the firm performed well in Q2, with a particularly strong result from Asset Management.

Lippe went on to say that the firm’s net income proved it could perform well even in challenging market conditions, and had set profitability as its clear priority.

He concluded that the firm was intent upon building on its strengths into the future and stated the target of making Swiss Re the leading player in the wholesale (re)insurance industry.


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