logo
Plus   Neg
Share
Email

Swiss Re 9-month Group Net Income Rises

Reinsurer Swiss Re (SSREY.PK) on Thursday reported 23 percent growth in net income for the nine-month period, backed by growth in Reinsurance and an excellent investment result.

The Group's net income totaled $1.3 billion, compared to $1.1 billion a year ago. On a per share basis, earnings amounted to 4.52 cents, versus last year's 3.53 cents.

For nine months, net premiums earned and fee income rose by 10 percent to $28.4 billion, mainly driven by growth in P&C Re premiums.

The Group's ROE for the period was 6.0 percent versus 4.7 percent last year. Swiss Re reported an ROI of 4.3 percent, up from 2.8 percent in the same period a year earlier.

Swiss Re's Group CFO John Dacey said, "The Group's results in the first nine months underline the strength of our franchise. Despite multiple large natural catastrophe and man-made claims affecting the business, our capital position remains very strong..."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
New York Attorney General Letitia James has fled a lawsuit against Vyera Pharmaceuticals and two of its former CEOs, including imprisoned 'Pharma Bro' Martin Shkreli, for illegally monopolizing a life-saving drug Daraprim. The lawsuit seeks a lifetime ban on Shkreli and his business partner Kevin Mulleady working in the pharmaceutical industry. Graco Inc. (GGG) shares were climbing more than 7 percent in morning trade. Monday after market close, the company had reported a surge in the fourth-quarter earnings to $84.8 million from $73.7 million in the prior year. Earnings per share surpassed analysts' estimates. Sales were up 1 percent to $412.3... Strategy of getting multiple indication approvals for the same drug seems to be paying off for AstraZeneca PLC (AZN), in terms of higher likelihood of approval and improved sales. Besides, the company is realizing value from non-core, mature brands to invest in new drugs, which also seems to be working in its favor.
Follow RTT
>