Swiss Re turns Q2 profit despite damaging cats
In spite of the natural and man-made catastrophes that punctuated the first half of 2010, Swiss Re booked net income of $812mn in the second quarter.
Investment gains, foreign exchange gains and a strong performance in its asset management business helped the reinsurer turn around last year's $342mn Q2 loss.
Nevertheless catastrophe losses made their mark, pushing Swiss Re's combined ratio to 102 percent, up from 89.4 percent in the second quarter of 2009.
CEO Stefan Lippe welcomed the "excellent&...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
