Tags: EU | Switzerland | Earns | Swiss | Re

Swiss Re Posts $812 Million Profit Despite Big Payouts

Thursday, 05 Aug 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 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
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 Aug 2010 11:33 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved