Swiss Re's Q1 profits hit by Cyclone Debbie
Swiss Re's first quarter 2017 after tax profits fell 53% compared with Q1 2016 to $656m (£511m) after a $350m hit from Cyclone Debbie.
The reinsurer’s P&C combined operating ratio deteriorated from 93.3% in Q1 2016 to 95.6% in Q1 2017; after tax P&C profits fell from $587m to $321m.
Swiss Re was hit hard in Australia and New Zealand
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Reinsurance
Price of motor and flood reinsurance falls for UK insurers
Ample reinsurance capacity meant UK insurers buying reinsurance cover during the busy 1 January renewal period enjoyed price reductions in some cases, according to a Gallagher Re report.
Ukraine war risks market set to expand after reinsurance deal
Ukrainian insurers are looking to expand war risks cover for businesses following the announcement of a new €110m (£91m) reinsurance facility last week, put together by Aon and the European Bank for Reconstruction and Development.
Aon teams up with European bank for Ukrainian war risk facility
Aon and the European Bank for Reconstruction and Development have launched a facility to aid Ukraine’s recovery and reconstruction by boosting reinsurance capacity.
Policy Expert gets capacity for pet push
Policy Expert has announced Bridgehaven will provide capacity for the business alongside Accredited, allowing the personal lines insurer to finally launch pet cover.
Top 50 Reinsurers of 2024 revealed
Munich Re and Swiss Re remain at the top of Insurance Post’s Top 50 Reinsurers 2024 list, despite Christopher Pennings, financial analyst at AM Best, observing the rankings have been shaken up by a shift in accounting requirements.
Hurricane Milton insured losses to run into the tens of billions
The insurance industry is likely to suffer losses of tens of billions of dollars from damage inflicted by Hurricane Milton last week, according to early estimates.
Reinsurers told they cannot ‘run from risk’
Reinsurers have been urged by Aon to “lean into risk” to protect the relevance of the broader insurance industry.
Marsh and Aon call for lifting of Ukraine exclusions
The world’s two largest insurance brokers have urged for the removal of blanket Ukraine exclusions in order to aid the country’s reconstruction efforts.