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Tags: EU | Switzerland | Earns | Swiss | Re

Swiss Re Posts $812 Million Profit Despite Big Payouts

Thursday, 05 August 2010 11:33 AM

Swiss Re Insurance Co. has reported a net profit of $812 million for the second quarter despite payouts for two large-scale disasters.

The company recorded a net loss of $342 million during the same period last year.

Swiss Re says earnings per share were 2.56 Swiss francs compared to a loss per share of 1.13 francs in 2009.

The Zurich, Switzerland-based company said Thursday it made a loss in its core reinsurance business because of large payouts for the Chile earthquake and the Gulf of Mexico oil rig explosion.

In total Swiss Re paid out $830 million for those two disasters alone.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Swiss Re Insurance Co. has reported a net profit of $812 million for the second quarter despite payouts for two large-scale disasters.The company recorded a net loss of $342 million during the same period last year.Swiss Re says earnings per share were 2.56 Swiss francs...
EU,Switzerland,Earns,Swiss,Re
102
2010-33-05
Thursday, 05 August 2010 11:33 AM
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