Swiss Re swings to profit despite large claims
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Despite several large claims, Zurich, Switzerland-based Swiss Re Ltd. recorded a profit of $1.1 billion in the nine months ended Sept. 30, compared with a loss of $468 million in the same period of 2017, Reuters reports. Swiss Re paid out $1.6 billion in claims, dominated by a typhoon in Japan and the collapse of a bridge in Italy’s Genoa. Gross premiums increased 6.5% to $28.4 billion, while claims totaled $1.6 billion during the period.
