Swiss Re: stock down after disappointing first quarter
(CercleFinance.com) - The Swiss Re share is down 3.
5% in Zurich today, after reinsurer published Q1 net income that is down 6% at 429 million dollars, well below the consensus.
While the group boasts excellent performance in life and health reinsurance, as well as a very strong investment result, the Swiss group suffered from large losses in its P&C activities.
However, Swiss Re highlights an accelerated improvement in the pricing environment for P&C-related activities, particularly in markets affected by losses, with the company announcing a momentum that remains robust in terms of contract renewals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
5% in Zurich today, after reinsurer published Q1 net income that is down 6% at 429 million dollars, well below the consensus.
While the group boasts excellent performance in life and health reinsurance, as well as a very strong investment result, the Swiss group suffered from large losses in its P&C activities.
However, Swiss Re highlights an accelerated improvement in the pricing environment for P&C-related activities, particularly in markets affected by losses, with the company announcing a momentum that remains robust in terms of contract renewals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.