Swiss Re reports net profit of $643m in Q1

Written by Adam Cadle

04/05/2023

Swiss Re has reported a net profit of $643m in Q1 2023, compared with a loss of $248m a year earlier.

The swing to a net profit was aided by higher prices and improved investment results. Analysts had expected a profit of $606 million, according to a consensus forecast.

The company's return on investments was 2.8%, up from 0.7% a year earlier.

"The first-quarter results demonstrate the resilience of all our main businesses," CEO Christian Mumenthaler said.

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