Swiss Re has reported net income of $US2.03 billion ($2.19 billion) for the first half, down 6.5% on the corresponding period last year.

The property and casualty segment delivered net income of $US1.54 billion ($1.66 billion), up 5.5%, and the combined operating ratio was 86.1%.

Premiums earned increased 10% to $US7.4 billion ($7.97 billion).

Last month’s treaty renewals in the Americas, Australia and New Zealand were successful, especially in casualty.

The group wrote less natural catastrophe business, but did so “at attractive price levels”.

Group CEO Michel Liès says the first-half profit is “impressive” during an exciting but demanding time for the industry.

“The environment is heavily influenced and shaped by various mega-trends, such as the continuous insurance demand in high-growth markets, increasing regulation or Big Data.

“I believe Big Data has the potential to revolutionise not only our industry, but the entire economy.”