Swiss Re reports 17% rise in net profit, in line with expectations

Reinsurance company Swiss Re (SRENH.S), opens new tab said on Thursday that net profit rose 17% in the first six months of the year, roughly in line with expectations, and it maintained its full-year targets.

Earnings got a lift from low claims for natural catastrophe and investment income, Swiss Re said, while its digital white-label business that it is exiting continued to make a loss.

The net profit of $2.09 billion in the period compares with a profit $1.79 billion a year earlier. Analysts had expected a profit of $2.02 billion, according to a consensus forecast.

Source: REUTER