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Swiss Re Group H1 net income $2 billion

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Staff writer ▼ | August 7, 2014
Swiss Re Group reports net income of $2 billion for the first half of 2014. All business segments contributed positively in the second quarter to this result.
Swiss Re Group
First half   All business segments contributed positively
Asset Management also demonstrated excellent year-to-date performance with an investment result of $2.2 billion.

All Business Units have contributed in the second quarter to deliver a net income of $2.0 billion for the first half of 2014 (vs. $2.2 billion in H1 2013). The excellent year-to-date Group return on investments of 3.9% was largely the result of last year's successful asset re-balancing. The re-balancing led to higher investment returns and more diversified sources of income while still maintaining a high-quality asset portfolio.

The annualised return on equity for the six months now stands at 12.6%, with earnings per share of $5.92. The Group remains well on track to meet its 2011–2015 financial targets. Book value per common share rose to $95.06 or CHF 84.30 compared to $93.08 or CHF 82.76 as of 31 December 2013.

For the second quarter P&C Re delivered a net income of $553 million (vs $455 million in the second quarter of 2013) and premiums earned rose by 12.3% to $3.6 billion (vs $3.2 billion). Net income in L&H Re was $48 million, with premiums earned and fee income 15.8% higher at $2.9 billion.

Corporate Solutions second quarter net income was $66 million ($55 million); net premiums earned were 22.6% higher at $841 million. Admin Re delivered a net income of $117 million for the quarter. The Group return on investment for the quarter was a very strong 4.1%.


 

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