Swiss Re’s quarterly results

On May 2^nd, Swiss Re published a somewhat disappointing set of quarterly results, with a net profit of USD 429 million, while the consensus expected USD 657 million. These results were heavily affected by an unexpected rise in claims. The company mentioned floods in Australia, the Ethiopian Airline’s crash as well as damages from typhoon Jebi. However, the business is fundamentally growing. Insured volumes are up 18% and Swis Re has been able to increase its prices. Therefore, we remain positive on this company which offers a dividend yield higher than 6%.