ZURICH May 4 Swiss Re, the world's
second-largest reinsurer, said on Thursday first-quarter net
profit fell nearly 47 percent after outlays on claims from
Australia's Cyclone Debbie stripped $350 million from the
reinsurer's bottom line.
The group's first-quarter net profit of $656 million fell
shy of estimates, which averaged $692 million in a Reuters poll
of eight analysts.
Swiss Re's property and casualty combined ratio, a measure
of underwriting profitability, rose to 95.6 percent, better than
a Reuters poll average of 98.3 percent. A figure below 100
percent indicates a profit.
(Reporting by Brenna Hughes Neghaiwi; Editing by Michael