Swiss Re Posts Higher Q1 Profit

Swiss Re AG – ADR SSREY posted a 17 percent surge in its Q1 net profit. Swiss Re's quarterly net profit jumped to $1.44 billion, versus a year-ago profit of $1.23 billion. Premiums and fee income gained to $7.56 billion, versus $7.55 billion. Its return on equity widened to 16.1 percent for the quarter, versus 14.9 percent. Net profit at Swiss Re's life and health unit climbed to $277 million from $64 million. Swiss Re shares rose 1.20 percent to close at $88.71 yesterday.