ZURICH: Swiss Re, the world's biggest reinsurer, announced yesterday another round of credit writedowns and said its first-quarter net profit had halved, missing analysts' forecasts.
Higher claims from a spate of catastrophes sapped profits, in stark contrast to Swiss Re's German rival Hannover Re, which posted a forecast beating 60% rise in first-quarter operating profit.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!