But group COR moves up to 100.1%

Michel Liès, Swiss Re

Swiss Re’s group net income was $786m for the second quarter of 2013, compared with $83m for Q2 2012.

However, the reinsurer’s group combined ratio was 100.1% for the most recent quarter (Q2 2012: 85.7%).

Total premiums earned were $6.79bn in Q2 2013, compared with $6.12bn for Q2 2012.

In property and casualty reinsurance, Swiss Re’s net income for the second quarter of this year was $468m, compared with $717m in Q2 2012.

The Q2 2013 combined ratio was 100.7% (Q2 2012: 81%).

Life and health dip

In life and health reinsurance, Swiss Re’s net income was $141m for the second quarter of 2013 (Q2 2012: $248m).

Swiss Re group chief executive Michel Liès said: “Our company has delivered another robust performance. This comes against the backdrop of high claims, especially those caused by the devastating floods in Europe and Canada.

“Throughout our 150-year history we have used our financial strength to help people recover from such floods and other destructive events. Our strategy is key to that mission and to the delivery of our 2011–2015 financial targets.”