Chief executive Christian Mumenthaler said: “While our property and casualty businesses were affected by significant large losses, Life & Health Re continued on its successful and steady path — a sign of the strength of our diversified business model.”
According to analysts at RBC Capital Markets, once large losses are stripped out, the underlying results were in line with Swiss Re’s guidance for the year. Shares fell nearly 2 percent in early trading.
Like other big insurance and reinsurance companies over the past week, Swiss Re said that prices were improving. It said that prices in Japan, which was hit by Typhoon Jebi last year, had risen by 7 percent.
Earlier this week Axa, Chubb and Lancashire Holdings all reported improving prices for commercial property & casualty insurance.