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Swiss Re Profit Beats Estimates on Lower Catastrophe Losses

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Swiss Re AG, the world’s second-biggest reinsurer, said third-quarter profit rose 14 percent, beating analysts’ estimates, following lower-than-expected losses from natural catastrophes.

Net income rose to $1.23 billion from $1.07 billion in the year-earlier period, beating the $928.6 million average estimate of 12 analysts surveyed by Bloomberg. Net income at property and casualty reinsurance, the biggest unit, rose 7.4 percent to $842 million, the Zurich-based company said in a statement today.