Swiss Re net income up 11%

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Swiss Re saw its net income increase 11% to $2.3bn in the first half of 2015, the reinsurer's second quarter results have revealed.

Life and Health reinsurance saw an increase in net income of $495m and a return on equity of 16.6%, which is on track for the full year target.

All divisions of Swiss Re saw positive results, with Life and Health reinsurance the second largest in terms of net income.

Michel M. Liès, group chief executive officer at Swiss Re, said: "The first half of 2015 has again put our business model to a good test.

"The result adds to our long track record of solid underwriting and investment performances.

Liès added: "Even though market conditions are difficult, it is important to not lose sight of the many opportunities we have for our industry.

"Addressing the current high levels of underinsurance presents an important long-term chance for re/insurers to grow.

"This is true for natural catastrophe protection, especially in emerging economies.

"It is also true for the large life and health protection gaps, which can leave families and individuals exposed to the financial shocks of a sudden disability, loss of a family member or need for long-term care.

"In this respect, insurance and Swiss Re can play an important and vital role."

Further Reading:

Swiss Re to offer D2C protection platform for insurers

Insurance industry sees global growth - Swiss Re report

International disability income shortfall is €750bn - Swiss Re

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