Swiss Re 9-month Group Net Income Rises
(RTTNews) - 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..."