Swiss Re improves results
Swiss Re has powered through the year so far, reporting a 45% increase in net income for the second quarter. Its CHF1.2 billion result ($1.18 billion) for the three months to June 30 stemmed from increased commercial business and stronger than usual investment returns.
CEO Jacques Aigrain says the results show the validity of the company’s strategies.
“We continued to generate economic profit growth through careful cycle management and efficient asset allocation.”
The group’s general reinsurance business achieved an operating income of CHF1.7 billion ($1.67 billion) for the quarter. Mr Aigrain says premiums earned from established business grew 19% to CHF4.5 billion ($4.2 billion), and the combined ratio for the period increased to 93.9%.
CEO Jacques Aigrain says the results show the validity of the company’s strategies.
“We continued to generate economic profit growth through careful cycle management and efficient asset allocation.”
The group’s general reinsurance business achieved an operating income of CHF1.7 billion ($1.67 billion) for the quarter. Mr Aigrain says premiums earned from established business grew 19% to CHF4.5 billion ($4.2 billion), and the combined ratio for the period increased to 93.9%.