Swiss Re reports US$158 million Q1 profit despite two major disasters
May 7, 2010, 12:08 pm TWN
ZURICH -- Swiss Re Insurance Co. on Thursday posted a first-quarter net profit of US$158 million despite two major natural disasters affecting its property and casualty business. The net profit is a 22 percent increase compared with the same period last year when Swiss Re posted a US$130 million net profit.
Earnings per share were 0.49 Swiss francs (US$0.44), up 9 percent from 0.45 francs in the year-earlier period, the company said.