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Swiss Re FY'17 net income falls YOY to $331M from $3.56B

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Swiss Re FY'17 net income falls YOY to $331M from $3.56B

Swiss Re AG reported full-year 2017 consolidated group net income of $331 million, compared to $3.56 billion a year earlier.

The Swiss reinsurer noted that the result includes estimated insurance claims, net of retrocession and before tax, of $4.7 billion from large natural catastrophes, such as Cyclone Debbie in Australia; Atlantic Hurricanes Harvey, Irma and Maria; the Mexican earthquakes; and the wildfires in California.

More details to follow.