Connect to share and comment

Swiss Re posts 61% profit rise in 2012

Switzerland-based insurer Swiss Re said on Thursday that its net profit rose by 61 percent in 2012 to $4.2 billion (3.2 billion euros), outpacing market forecasts, despite the impact of Hurricane Sandy. "In dollars, these are the highest results ever reported by the group," Swiss Re's chief financial officer, George Quinn, told reporters. The figures were driven by a 15-percent increase in premium revenues, which reached $25.4 billion, as well improved profitability in its damage insurance business, Swiss Re said.

Swiss Re posts 61% profit rise in 2012

Switzerland-based insurer Swiss Re said on Thursday that its net profit rose by 61 percent in 2012, hitting $4.2 billion (3.2 billion euros), a performance that outpaced market forecasts. The figures were driven by a 15-percent increase in premium revenues, which reached $25.4 billion, as well improved profitability in its damage insurance business, Swiss Re said. Analysts polled by Swiss financial newswire AWP had predicted net profit of $3.5 billion, and premiums of $24.6 billion.
Syndicate content