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19 June 2013

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Swiss Re earnings slashed on Admin Re sale

9 August 2012

Swiss Re took a $1bn loss on the sale of its Admin Re US business in the second quarter, reducing its net profit for the period to just $83mn.

This was down from $960mn for the same period in 2011.

But group CEO Michel Liès said that to post a quarterly profit in spite of the Admin Re loss demonstrated the strength and resilience of the firm's underlying earnings power.

Strong results from Swiss Re's P&C reinsurance arm helped to...

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