Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 22nd of May 2019
November 4, 2010

Swiss Re doubles Q3 profits

by Richard Kilner

Story link: Swiss Re doubles Q3 profits

Swiss Re has reported that in the third quarter of 2010 its net income doubled from US$314m in Q3 2009 to US$618m.

This is, however, a drop of approximately a quarter from the US$812m it made in Q2 2010.

Earnings per share rose from US$0.92 to US$1.80, and return on equity increased from 6.1% to 9.5%.

Swiss Re also had its A+ rating reaffirmed by Standard & Poor’s, with its outlook for the future upgraded from stable to positive.

Chief Executive Officer Stefan Lippe responded positively to the firm’s results, stating that it had met the challenges of the last year and achieved the goals it had set for itself.

Lippe went on to say that Swiss Re had delivered on its promises and turned its fortunes around.

He concluded by stating that the firm was focused upon the future, implementing its strategic vision and seizing opportunities.


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