Swiss Re : Better than expected earnings in Q3 thanks to P&C
>Net income of $ 444m in Q3, better than expected - Swiss Re on Friday morning reported a net loss of $ 691m in 9M 2020 (i.e. net income of $ 444m in Q3 2020), beating expectations (vs our forecast of -$ 1.055bn, and the consensus of -$ 887m). Excl. COVID-19, it would have posted a positive net income of $ 1.6bn in 9M 2020. By business line, we note a better than expected net income in P&C reinsurance of -$ 201m in 9M (net income of $ 318m in Q3) vs our forecast of ...Swiss Re is engaged in wholesale reinsurance, insurance and risk transfer solutions. Co.'s clients include insurance companies, corporations, the public sector and policyholders. Co.'s business units include: Property & Casualty Reinsurance, which includes the business lines property and casualty (including motor); Life & Health Reinsurance, which includes the life and health line of business; Corporate Solutions, which serves mid-sized and large corporations, with product offerings ranging from property and casualty insurance to customised solutions; and Admin Re®, which provides risk and capital management solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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