Swiss Re posted a surprise second-quarter net loss on Wednesday as charges on corporate bond hedges, securitized products and its own credit spreads ate up operating returns. Zurich-based Swiss Re said it made a net loss of 381 million Swiss …
Swiss Re reported a net profit of CHF 150 million ($131.6 million) in the first quarter of 2009, compared to CHF 0.6 billion ($527 million) for the same period last year. Earnings per share declined to CHF 0.45 (39.5 cents). …
Swiss Re has announced cost cutting moves aimed at saving around CHF 400 million ($349 million) “by the end of 2010.” It plans to layoff around 10 percent of its global workforce in order to achieve the reductions. The reinsurer …
Switzerland’s financial community has seen some major upheavals lately. The latest major change came with the announcement that Peter Forstmoser, Chairman of the Board of Directors of Swiss Re, has decided to resign from the Board, effective May 1. Swiss …
Swiss RE’s CEO Jacques Aigrain resigned today, Thursday, February 13, a week after U.S. investor Warren Buffett stepped in with new capital and the reinsurer said it was disbanding its financial markets business. Swiss Re said Aigrain has been replaced …
Swiss Re announced that it “expects earnings for the year 2000 to be up slightly more than 20%,” and that “significant improvements” had been made in the recent reinsurance renewal period. The company profited from unusually high returns on its …
