Swiss Re Net Income Beats Estimates on Lower Catastrophe Claims

Swiss Re AG reported a 19% jump in net income in the first quarter, aided by fewer natural catastrophe claims and higher than expected investment returns.

The Zurich-based reinsurer saw net income rise to $1.5 billion for the first three months of the year. Analysts had estimated $1.19 billion. The group reported return on investments of 4.6%, up from the same quarter a year ago, a result boosted by the sale of some real estate assets in Switzerland.