The Swiss Reinsurance Company has reported strong results across all segments for the second quarter of 2011, saying it had a very good investment performance.
The Zurich company, which basically insures insurers, said it had a net profit of $960 million (SFr746 million), compared with $812 million achieved in the same time the previous year.
Swiss Re, the world’s second-largest reinsurer, easily beat a poll by Reuters which had mentioned a profit figure of $545 million.
The company’s chief executive, Stefan Lippe was upbeat about the company’s performance: “The group performance in the second quarter was strong. All segments – Property and Casualty, Life & Health and Asset Management – contributed to the result.”
In a statement, the company said that the reinsurance market had started to turn and it expected further improvements over the next six to 18 months.
swissinfo.ch and agencies