Swiss re hikes dividend despite lower premium volume and mega cat losses
Swiss Re has reported net income of CHF 1.45bn for 2005, down 40% on 2004. The company pointed to an extra CHF1.8bn in large catastrophe claims on the prior year as well as an overall 6% reduction in net premium volume due to the competitive nature of the market.
The non-life combined ratio came in at 108.7%, against 97% a year earlier, weighed down by the aforementioned catastrophe losses and a 10% fall in earned premiums.
The results were buoyed by a strong
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