Insurance giant Swiss Re posts 580% jump in full-year profit


Swiss Re CEO Christian Mumenthaler gestures during a session of the World Economic Forum (WEF) annual meeting in Davos on January 18, 2024.

Fabrice Coffrini | Afp | Getty Images

Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefitting from what it described as an attractive market environment after a “batch of bad years.”

The Zurich-headquartered company posted full-year net profit of $3.2 billion, in line with expectations according to an LSEG-compiled consensus. It marked a nearly 580% increase when compared to the previous year’s $472 million profit.

Swiss Re proposed a 6% increase in its dividend to $6.80 per share for 2023.

The firm’s results reflect a…

Source cnbc.com

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