Swiss Re is out of the red zone
The world's second reinsurer is back to profits for the 2009 first quarter, after closing the year 2008 on an 864 million CHF (818 million USD) loss. Swiss Re has posted a quarterly net profit in regression by 76% at 150 million CHF (142 million USD) in comparison with the same period of 2008. The group states having posted a premium progression of 1% at 6.5 billion EUR (9.2 billion USD) and a 6.2 improvement of its loss ratio over a year's period.
Main reinsurers' results in the first quarter 2009
in millions EUR| Gross written premiums | Net results | Comined ratio | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Q 2008 | 1 Q 2009 | % | 1 Q 2008 | 1 Q 2009 | % | 1 Q 2008 | 1 Q 2009 | ||
SCOR | 1 353 | 1 561 | 15.4% | 133 | 93 | -30.1% | 98.4% | 99.4% | |
Hannover Re | 2 276 | 2 662 | 17% | 152 | 216 | 42.6% | 99.5% | 95% | |
Munich Re | 9 842 | 10 367 | 5.3% | 777 | 420 | -45.9% | 103.7% | 97.3% | |
Swiss Re* | 6 457 | 6 528 | 1.1% | 624 | 150 | -76% | 96.4% | 90.2% | |
