Swiss Re Posts Upbeat Q1 Profit

Swiss Re Ltd

posted better-than-expected first-quarter earnings. Swiss Re posted to a quarterly net profit of $1.14 billion, versus a year-ago loss of $665 million. However, analysts were expecting a profit of $587.3 million. Net earned premiums surged 22% to $6.2 billion from $5.1 billion. Swiss Re shares closed at $62.81 yesterday.