Swiss Re reveals 73% lift in group net income

It’s Swiss Re’s turn to unveil its full-year numbers for 2019, and the major reinsurer has a $727 million reason to be merry. In a release this morning, Swiss Re said its group net income for last year rose 73% from $421 million in 2018. Much of the result was attributed to the group’s Life & Health Reinsurance (L&H Re) unit, net income of which went up 18% to $899 million. As for the other segments, Property & Casualty Reinsurance (P&C Re) posted a 7% increase in net income to $396 million; Corporate Solutions, a higher net loss of $647 million; and Life Capital, net loss of $177 million from 2018’s $23 million net income.