Swiss Re: 2018 profit hit by natural catastrophes
(CercleFinance.com) - On Thursday reinsurance giant Swiss Re said that in 2018 its net profit had been hit by a series of natural catastrophes and man-made events.
Swiss Re announced full-year net income of 421 million dollars in 2018, including estimated claims of 3 billion dollars.
2018 was the fourth most expensive year for the insurance industry, according to Swiss Re.
The year saw a number of major natural catastrophes - particularly typhoons in Japan, hurricane Florence and wildfires in the US.
Analysts mentioned "weak results, but also highlighted "strong capital returns"
Indeed, Swiss Re's board plans to propose a "recalibration" of the dividend to 5.6 Swiss francs per share in 2018, up 12% from, the previous year.
Swiss Re shares are currently up 1.2% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Swiss Re announced full-year net income of 421 million dollars in 2018, including estimated claims of 3 billion dollars.
2018 was the fourth most expensive year for the insurance industry, according to Swiss Re.
The year saw a number of major natural catastrophes - particularly typhoons in Japan, hurricane Florence and wildfires in the US.
Analysts mentioned "weak results, but also highlighted "strong capital returns"
Indeed, Swiss Re's board plans to propose a "recalibration" of the dividend to 5.6 Swiss francs per share in 2018, up 12% from, the previous year.
Swiss Re shares are currently up 1.2% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.