Swiss Companies Beating Predictions Of 2nd Quarter Earnings

12 Aug 2013

With an unexpected net profit higher than last year, the world’s second biggest reinsurer, Swiss Re has beaten the predictions of 2nd quarter earnings. The company has posted a net profit of $786 million in the 2nd quarter. Michel Lies, Chief Executive Officer said that this comes against the backdrop of high claims, chiefly those caused by the disastrous floods in Canada and Europe. In exchange for a part of the premium, Reinsurers helps the insurance company customers to cover the costs of major damage claims like earthquakes and hurricanes. The reasons for the company’s profitable growth are stated as higher premium volumes and good policy renewals.

Working in Switzerland may be a good option as reports of several other Swiss companies doing well are also seen. Adecco, world’s largest staffing firm beating the 2nd quarter expectations at €126 million, and Nestlé, food and drinks giant posting its 1st half profits to CHF 5.1 billion.

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