Daily Insurance Industry News
Daily Insurance Industry News
Thursday 18th of October 2018
May 4, 2012

Swiss Re reports strong start to 2012

by Richard Kilner

Story link: Swiss Re reports strong start to 2012

Swiss Re has reported that in the first quarter of 2012 it made net income US$1.1bn, comparing favourably with the US$665m loss it incurred during the corresponding period last year.

The result was aided by a number of factors, including lower than expected natural catastrophe claims (in stark contrast to 2011).

Premiums earned rose from US$5.1bn to US$6.2bn and return on equity came to 15.3%.

Group Chief Executive Officer Michel M. Liès welcomed the firm’s good start to 2012 and described Swiss Re’s Q1 results as very strong.

Liès went on to say that the firm’s excellent start to the year was indicative of the progress it had made towards hitting its financial performance targets.

The CEO added that the firm would continue to manage risk prudently and that it would seek to exploit opportunities arising from strong economic conditions in emerging markets and the hardening of the P&C reinsurance market.


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