BRUSSELS (dpa-AFX) - Swiss Re AG (SREN.SW) Thursday reported lower third-quarter profit, mainly reflecting weaker insurance service and investment results.
Net income attributable to shareholders decreased to $1.336 billion or $4.60 per share from $1.428 billion or $4.53 per share in the prior-year quarter.
Insurance service result before reinsurance contracts held declined to $1.854 billion from $2.297 billion in the prior-year quarter.
Insurance revenue dropped to $10.931 billion from $11.052 billion.
Property & Casualty Reinsurance (P&C Re) segment reported insurance revenue of $4.535 billion, Life & Health Reinsurance (L&H Re) recorded $4.471 billion, and Corporate Solutions posted $1.879 billion.
Net investment income dropped to $1.090 billion from $1.116 billion in the prior-year quarter.
Total investment result fell to $1.045 billion from $1.136 billion last year.
On the SIX Swiss Exchange, Swiss Re shares closed up 1.73% at CHF 156.10 on Wednesday.
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